Document:

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN
SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

LANDSTAR,
INC.

 

	Warrant
    Shares:___________	 	 		Issue
    Date: December
    __, 2018

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, the person more particularly
descried on Exhibit “A”, attached hereto and incorporated herein by reference (the “Holder”), is
entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or
after the Issue Date (as defined above) and on or prior to the close of business on the fifth (5th) anniversary of
the Issue Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from LANDSTAR, INC.,
a Nevada corporation (the “Company”), up to ___________________ shares (the “Warrant Shares”)
(whereby such number may be adjusted from time to time pursuant to the terms and conditions of this Warrant) of Common Stock.
The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section
2(b), subject to adjustment herein. This Warrant is issued by the Company as of the Issue Date noted above hereof in connection
with that certain Common Stock Purchase Agreement dated of even date by and between the Company and the Holder (the “Purchase
Agreement”).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the
Purchase Agreement, pursuant to which this Warrant is being issued.

 

Section
2. Exercise.

 

a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time and from time to time on or after the Issue Date and on or before the Termination Date by delivery to the Company (or such
other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the
Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto
(“Notice of Exercise”) (which delivery may be made in any manner set forth in the Purchase Agreement, including
without limitation by email); and, within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company,
the Company shall have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s
check drawn on a United States bank, unless payment is being made by cashless exercise as provided in Section 2(c) below. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case the
Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice
of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number
of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder
in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be $0.____, subject to
adjustment hereunder (the “Exercise Price”).

 

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c)
Cashless Exercise. This Warrant may also be exercised by means of a “cashless exercise” in which the Holder
shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B)
(X)] by (B), where:

 

(A)
= the Market Price (as defined below);

 

(B)
= the Exercise Price of this Warrant (as adjusted); and

 

(X)
= the number of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by means of
a cash exercise rather than a cashless exercise.

 

“Market
Price” shall mean the closing sale price per share of Common Stock on the principal market where the Common Stock is traded
on the Trading Day immediately preceding delivery of the Notice of Exercise or the Closing Date, whichever is greater.

 

d)
Holder’s Restrictions. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the
right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates,
and any other person or entity acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock
issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of
shares of Common Stock which would be issuable upon (A) exercise of the remaining, nonexercised portion of this Warrant beneficially
owned by the Holder or any of its Affiliates and (B) exercise or conversion of the unexercised or nonconverted portion of any
other securities of the Company (including, without limitation, any rights or securities convertible into or exercisable for Common
Stock (“Common Stock Equivalents”)) subject to a limitation on conversion or exercise analogous to the limitation
contained herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for
purposes of this Section 2(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and
the rules and regulations promulgated thereunder. To the extent that the limitation contained in this Section 2(d) applies, the
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates)
and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice
of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other
securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable, in each case
subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of
such determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(d),
in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common
Stock as reflected in (x) the Company’s most recent periodic or annual report, as the case may be, (y) a more recent public
announcement by the Company or (z) any other notice by the Company or the Company’s Transfer Agent setting forth the number
of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days
confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of
outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the
Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares
of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 9.9% of the number of shares of
the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise
of this Warrant. By written notice to the Company, the Holder may at any time and from time to time increase or decrease the Beneficial
Ownership Limitation to any other percentage specified in such notice (or specify that the Beneficial Ownership Limitation shall
no longer be applicable), provided, however, that (A) any such increase (or inapplicability) shall not be effective until the
sixty-first (61st) day after such notice is delivered to the Company, and (B) any such increase or decrease shall apply only to
the Holder and not to any other holder of Warrants. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 2(d) to correct this paragraph (or any portion hereof) which
may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to
a successor holder of this Warrant.

 

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e)
Mechanics of Exercise.

 

i.
Delivery of Certificates Upon Exercise. Certificates for shares purchased hereunder shall be transmitted by the transfer
agent of the Company to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company
through its Deposit Withdrawal Agent Commission (“DWAC”) system if the Company is a participant in such system
and either (x) there is an effective registration statement permitting the resale of the Warrant Shares by the Holder, or (y)
such shares may be sold pursuant to Rule 144, and otherwise by physical delivery to the address specified by the Holder in the
Notice of Exercise, within 3 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant
(if required) and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”).
This Warrant shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares
shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have
become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company
of the Exercise Price (or by cashless exercise) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(e)(vi)
prior to the issuance of such shares, have been paid. If the Company fails for any reason to deliver to the Holder the Warrant
Shares or certificates evidencing the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date the Company
shall pay to the Holder, in cash, as liquidated damages and not as a penalty, $1,000.00 per Trading Day (increasing to $2,000.00
per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant
Share Delivery Date until such shares or certificates are delivered.

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of the Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing
Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called
for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

iii.
Rescission Rights. If the Company fails to cause its transfer agent to transmit to the Holder a certificate or certificates
representing the Warrant Shares (or otherwise transmit such shares via DWAC to the Holders DTC account) pursuant to this Section
2(e) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.
Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder a certificate or certificates representing
the Warrant Shares (or otherwise transmit such shares via DWAC to the Holders DTC account) pursuant to an exercise on or before
the Warrant Share Delivery Date and if after such date the Holder is required by its broker to purchase (in an open market transaction
or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a
sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (1) pay in cash to the Holder the amount by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (A)
the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(B) the price at which the sell order giving rise to such purchase obligation was executed, and (2) at the option of the Holder,
either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored or
deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its
exercise and delivery obligations hereunder. By way of example and limitation, if the Holder purchases Common Stock having a total
purchase price of $11,000.00 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate
sale price giving rise to such purchase obligation of $10,000.00, under clause (1) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000.00. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall
limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver the Warrant
Shares or certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

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v.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company
shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price or round up to the next whole share.

 

vi.
Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for
any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses
shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may
be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued
in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment
Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient
to reimburse it for any transfer tax incidental thereto.

 

Section
3. Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (A) pays a stock dividend or
otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (B) subdivides outstanding shares of Common Stock into a larger number of shares, (C) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately
before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such
event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate
Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective
immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and
shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

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b)
Subsequent Equity Sales. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding,
shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce
any offer, sale, grant or any option to purchase or other disposition) any Common Stock or securities entitling any Person to
acquire shares of Common Stock (upon conversion, exercise or otherwise), at an effective price per share less than the then Exercise
Price (such lower price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”)
(if the holder of the Common Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price
adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights
per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price
per share which is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price
on such date of the Dilutive Issuance), then the Exercise Price shall be reduced and only reduced to equal the Base Share Price,
and the number of Warrant Shares issuable hereunder shall be increased such that the aggregate Exercise Price payable hereunder,
after taking into account the decrease in the Exercise Price, shall be equal to the aggregate Exercise Price prior to such adjustment.
Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued. The Company shall notify the
Holder in writing, no later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject
to this Section 3(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion
price and other pricing terms (such notice the “Dilutive Issuance Notice”). For purposes of clarification,
whether or not the Company provides a Dilutive Issuance Notice pursuant to this Section 3(b), upon the occurrence of any Dilutive
Issuance, after the date of such Dilutive Issuance the Holder is entitled to receive a number of Warrant Shares based upon the
Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise.

 

c)
Subsequent Rights Offerings. If the Company, at any time while the Warrant is outstanding, shall issue rights, options
or warrants to all holders of Common Stock (and not to Holders) entitling them to subscribe for or purchase shares of Common Stock
at a price per share less than the closing price at the record date mentioned below, then the Exercise Price shall be multiplied
by a fraction, of which the denominator shall be the number of shares of the Common Stock outstanding on the date of issuance
of such rights or warrants plus the number of additional shares of Common Stock offered for subscription or purchase, and of which
the numerator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights or warrants
plus the number of shares which the aggregate offering price of the total number of shares issued (assuming receipt by the Company
in full of all consideration payable upon exercise of such rights, options or warrants) would purchase at such closing price.
Such adjustment shall be made whenever such rights or warrants are issued, and shall become effective immediately after the record
date for the determination of stockholders entitled to receive such rights, options or warrants.

 

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d)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders
of Common Stock (and not to Holders of the Warrants) evidences of its indebtedness or assets (including cash and cash dividends)
or rights or warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to Section
3(b)), then in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior
to the record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the denominator
shall be the closing price determined as of the record date mentioned above, and of which the numerator shall be such closing
price on such record date less the then per share fair market value at such record date of the portion of such assets or evidence
of indebtedness so distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors
in good faith. In either case the adjustments shall be described in a statement provided to the Holder of the portion of assets
or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment
shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

 

e)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (A) the Company effects any merger or consolidation
of the Company with or into another Person, (B) the Company effects any sale of all or substantially all of its assets in one
or a series of related transactions, (C) any tender offer or exchange offer (whether by the Company or another Person) is completed
pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property,
or (D) the Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (each “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of shares
of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such merger, consolidation or disposition
of assets by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such
event. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to
such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in
such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable
manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are
given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be
given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or surviving entity
in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing
the Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant to which a
Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions
of this Section 3(e) and insuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent
transaction analogous to a Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction
that is (1) an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Securities
Exchange Act of 1934, as amended, or (3) a Fundamental Transaction involving a person or entity not traded on a national securities
exchange, the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, the Company or any successor
entity shall pay at the Holder’s option, exercisable at any time concurrently with or within 30 days after the consummation
of the Fundamental Transaction, an amount of cash equal to the value of this Warrant as determined in accordance with the Black
Scholes Option Pricing Model obtained from the “OV” function on Bloomberg L.P. using a price per share of Common Stock
equal to the closing price of the Common Stock for the Trading Day immediately preceding the date of consummation of the applicable
Fundamental Transaction, (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining
term of this Warrant as of the date of consummation of the applicable Fundamental Transaction and (iii) an expected volatility
equal to the 100 day volatility obtained from the “HVT” function on Bloomberg L.P. determined as of the Trading Day
immediately following the public announcement of the applicable Fundamental Transaction.

 

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f)
Calculations. All calculations under this Section 3 shall be made to the nearest two decimal places or the nearest 1/100th
of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding
as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the
Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a
brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock; (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock; (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights; (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a
party, any sale or transfer of all or substantially all of the assets of the Company, of any compulsory share exchange whereby
the Common Stock is converted into other securities, cash or property; (E) the Company shall authorize the voluntary or involuntary
dissolution, liquidation or winding up of the affairs of the Company; then, in each case, the Company shall cause to be mailed
to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 7 business days prior
to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken
for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is
expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or
in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder
is entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event
triggering such notice.

 

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Section
4. Transfer of Warrant.

 

a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without
limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having
a new Warrant issued.

 

b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated
the original Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act
and under applicable state securities or blue sky laws or eligible for resale under Rule 144, the Company may require, as a condition
of allowing such transfer, that the Holder and transferee of this Warrant both satisfy the conditions to being an accredited investor,
as defined under Regulation D promulgated under the Securities Act of 1933, as amended.

 

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Section
5. Miscellaneous.

 

a)
No Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(e)(i).

 

b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

d)
Authorized Shares. The Company covenants that during the period from the issuance of the Warrant until the Termination
Date it will reserve from its authorized and unissued Common Stock, the number of shares of Common Stock issuable upon the full
exercise of this Warrant (without regard to the beneficial ownership limitations contained herein). The Company further covenants
that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock
certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under
this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued
as provided herein without violation of any applicable law or regulation, or of any requirements of the trading market upon which
the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase
rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized,
validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the
issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). Except and to the extent
as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will
at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon
such exercise immediately prior to such increase in par value, (b) take all such action as may be necessary or appropriate in
order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant,
and (c) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant.

 

    	9

     

    

 

e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws.

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding the
fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any
of its rights, powers or remedies hereunder.

 

h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability
of Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by
the Company or by creditors of the Company.

 

j)
Remedies. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will
be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and
not to assert the defense in any action for specific performance that a remedy at law would be adequate.

 

k)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be
enforceable by the Holder or holder of Warrant Shares.

 

l)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder.

 

m)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

o)
Signatures. Any signature transmitted by facsimile, e-mail, or other electronic means shall be deemed to be an original
signature.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	10

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date
first above indicated.

 

	 	LANDSTAR,
    INC.
	 	 	 
	 	BY:
    	       
	 	NAME:	 
	 	TITLE:	 

 

    	11

     

    

 

EXHIBIT
“A”

HOLDER

 

	Name
    of Holder:_________________________________________	 
	 	 
	Name
    of Authorized Representative: :_________________________________________	 
	 	 
	Title
    of Authorized Representative: :__________________________________________	 
	 	 
	Email
    Address of Authorized Representative: :__________________	 
	 	 
	Facsimile
    Number of Authorized Representative: __________________	 
	 	 
	EIN
    or SSN of Holder: :_______________________	 
	 	 
	State
    of Formation/Residence of Holder::_______________	 
	 	 

 

Holder’s
Address for Notice:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	12

     

    

 

NOTICE
OF EXERCISE

 

	TO:	LANDSTAR,
    INC.
	 	 
	RE:	Warrant
    originally issued on or about December __, 2018, for ______________ Warrant Shares.

 

	 	(1)	The
    undersigned hereby elects to purchase _____________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
    (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
    taxes, if any.
	 	 	 
	 	(2)	Payment
    shall take the form of (check applicable box):

 

	 	[  ]	in
    lawful money of the United States; or
	 	 	 
	 	[  ]	the
    cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
    to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
    procedure set forth in subsection 2(c).

 

	 	(3)	Please
    issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name
    as is specified below:

 

	 	 	 

 

	 	(4)	The
    Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	 	(5)	The
    undersigned hereby confirms it is an “accredited investor”, as defined in Regulation D promulgated under the Securities
    Act of 1933, as amended.

 

	Name
    of Warrant Holder:__________________________________	 
	 	 
	Signature
    of Authorized Signatory: __________________________________	 
	 	 
	Name
    of Authorized Signatory: ________________________	 
	 	 
	Title
    of Authorized Signatory: _________________________	 
	 	 
	Date:
    _________________________	 

 

    	13

     

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information.

Do
not use this form to exercise the Warrant.)

 

FOR
VALUE RECEIVED, [_________] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby
assigned to:

 

	 	 	 

 

whose
address is:

 

	 	 	 
	 	 	 
	 	 	 

 

	HOLDER:__________________________________	 
	 	 
	Signature
    of Authorized Signatory: __________________________________	 
	 	 
	Name
    of Authorized Signatory: ________________________	 
	 	 
	Title
    of Authorized Signatory: ________________________	 
	 	 
	Date:
    ________________________	 

 

Signature
Guaranteed:

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those
acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

    	14[]

The Lincoln National Life Insurance Company

(the "Company")

A Stock Company

Home Office Location:                                                                                        [Fort Wayne, Indiana]

Administrator Mailing Address:                                                                                        The Lincoln National Life Insurance Company

[350 Church Street

Hartford, CT 06103-1106]

The Lincoln National Life Insurance Company agrees to pay the Death Benefit Proceeds to the Beneficiary after receipt of Due Proof of Death of the Insured while this Policy is In Force and to provide the other rights and benefits according to the terms of this Policy.

Read this Policy Carefully

This is a legal contract between you and us. This Policy is issued and accepted subject to the terms set forth on the following pages, which are made a part of this Policy. In consideration of the application and the payment of premiums as provided, this Policy is executed by us as of the Policy Date at the Administrator Mailing Address shown above.  Pay particular attention to the Policy Specifications as they are specific to you and may contain important terms and conditions.

Right to Examine this Policy

You may return this Policy for any reason to the insurance agent through whom it was purchased, to any other insurance agent of the Company or to us at the Administrator Mailing Address listed above within [10] days after its receipt ([30] after its receipt where required by law if this Policy is issued in replacement of other insurance).  If returned, this Policy will be considered void from the Policy Date and we will refund, as of the date the returned Policy is received by us, the Accumulation Value less Debt plus any charges and fees taken under the Policy's terms.

ANY BENEFITS, INCLUDING DEATH BENEFITS, AND VALUES PROVIDED BY THIS POLICY BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT ARE VARIABLE, MAY INCREASE OR DECREASE DAILY, AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT.

The Death Benefit Proceeds on the Policy Date equal the Initial Specified Amount of this Policy. Thereafter, the Death Benefit Proceeds may vary under the conditions described in the "Insurance Coverage and Death Benefit Provisions" of this Policy.

[]                                                                                                                []

[President]                                                                                                                [Secretary]

	
Insured:

	
[INSURED NAME]

	
Policy Number:

	
[SPECIMEN]

INDIVIDUAL FLEXIBLE PREMIUM VARIABLE ADJUSTABLE LIFE INSURANCE POLICY

Death Benefit Proceeds are payable if the Insured dies while this Policy is In Force.  Investment results are reflected in Policy benefits.  The Surrender Value is payable upon surrender of this Policy.  Flexible premiums are payable to the earlier of the Insured's Attained Age 121 or the Insured's death. Planned Premium payments and additional Riders and/or benefits are shown in the Policy Specifications.  This Policy is non-participating; it is not eligible for dividends.

For information or assistance regarding this Policy call: [800-444-2363]

Table of Contents

Provision Page*

Summary of Policy Features...............................................................................................................................................2a

Individual Flexible Premium Variable Adjustable Life Insurance; Coverage Duration; Accumulation Value; Interest; Separate Account Performance; No-Lapse Enhancement Rider; Monitoring Your Policy's Performance

Policy Specifications...........................................................................................................................................................3

Summarizes benefits that you purchased including charges and expenses.

Riders and Benefits Charges.....................................................................................................................................3a

Table of Surrender Charges........................................................................................................................................ 3b

Surrender Charge as of Beginning of Policy Year; Calculation of Charge for Decrease in Specified Amount

Table of Expense Charges and Fees.......................................................................................................................... 3c Guaranteed Maximum Premium Load; Cost of Insurance; Guaranteed Maximum Monthly Administrative Fee; Guaranteed Maximum Mortality and Expense ("M&E") Risk Charge Rate; Transfer Fee

Table of Guaranteed Maximum Cost of Insurance Rates......................................................................................... 3d

Corridor Percentages Table........................................................................................................................................ 3e

Death Benefit Qualification Test

Definitions............................................................................................................................................................................. 5

The Contract..........................................................................................................................................................................7

Entire Contract; Changes to Contract Terms; Non-Participating; Misstatement of Age or Sex; Incontestability

Ownership............................................................................................................................................................................. 7

Rights of Owner; Transfer of Ownership; Assignment; Some Important Things You Should Do

Beneficiary............................................................................................................................................................................ 8

Beneficiary; Change of Beneficiary

Insurance Coverage and Death Benefit Provisions.......................................................................................................... 8

Date of Coverage; Termination of Coverage; Death Benefit Proceeds; Notice of Claim; Income Tax on Death Benefits; Suicide; Method of Payment; Interest on Death Benefit; Continuation of Coverage After Insured's Attained Age 121

Changes in Insurance Coverage....................................................................................................................................... 10

Increases in Specified Amount; Decreases in Specified Amount; Premium Class Changes; Rider and/or Benefit Additions; Change of Plan; Policy Split Prohibition

Premium and Allocation Provisions................................................................................................................................. 11

Payment of Premiums; Planned Premiums; Additional Premiums; Premium Refund at Death; Premium Allocation Instructions; Account Allocation Instructions; Optional Sub-Account Allocation Programs

Grace Period, Continuation of Insurance and Reinstatement Provisions.................................................................... 12

Grace Period; Continuation of Insurance; Reinstatement

Policy Values Provisions................................................................................................................................................... 13

Accumulation Value; Fixed Account Value; Separate Account Value; Variable Accumulation Unit Value; Loan Account Value; Interest Credited Under Fixed Account; Interest Credited Under Loan Account; Mortality and Expense Risk ("M&E") Charge; Fees Associated with the Underlying Funds; Persistency Bonus; Monthly Deduction; Cost of Insurance; Cost of Insurance Rates; Basis of Values; Changes in Rates and Charges

Separate Account Provisions............................................................................................................................................ 15

Separate Account; Sub-Accounts; Investments of the Sub-Accounts; Investment Risk; Underlying Fund Withdrawal and Substituted Securities

Transfer Privilege Provisions............................................................................................................................................ 16

Transfer Privilege; Transfer Fees; Transfers from the Fixed Account; Transfers From a Sub-Account; Change of Terms and Conditions

Surrender Provisions......................................................................................................................................................... 17

Surrender; Surrender Charges; Charge for Decrease in Specified Amount; Surrender Charge for Full Surrender; Partial Surrender (i.e. Withdrawal); Effect of Partial Surrenders on Accumulation Value and Specified Amount

Loan Provisions.................................................................................................................................................................. 18

Loans; Loan Account; Interest Rate Charged on Loan Account; Loan Repayment; Debt

General Provisions............................................................................................................................................................. 19

Annual Report; Compliance with the Internal Revenue Code; Deferment of Payments; Modified Endowment; Payment of Proceeds; Projection of Benefits and Values

Effect of Policy on Riders Provisions............................................................................................................................... 20

Effect of Riders on Policy Provisions............................................................................................................................... 21

Settlement Options............................................................................................................................................................. 21

*Page 4 is intentionally blank.

Amendments, Endorsements, or Riders, if any, and a copy of the application follow Page 22.

Summary of Policy Features

This summary is an overview of the important features and operations of your Policy. It is meant to give you a basic understanding of your Policy.  Specific details regarding these features are only provided in the Policy provisions and cannot fully be described in a summary. This summary is not a substitute for reading the entire Policy carefully.

Individual Flexible Premium Variable Adjustable Life Insurance   This title is our generic name for variable universal life insurance. "Flexible premium" means that you may pay premiums by any method agreeable to us, at any time prior to the Insured's Attained Age 121 and in any amount subject to certain limitations.  It is important to maintain the payment(s) of your Planned Premium, as shown on the Policy Specifications, in order to keep your Policy In Force.  "Adjustable life insurance" means that you, with our agreement, can change the death benefit to meet your changing needs.

The Policy provides for a Fixed Account and a Separate Account. Based on the allocation instructions you provide, we will direct any Net Premium Payment into one or both of these accounts.

The Fixed Account is part of the Company's general assets, is not subject to market fluctuation and interest is credited subject to a minimum rate.

The investment performance of Separate Account assets is kept separate from the Company's general assets and will fluctuate based on the performance of the Sub-Accounts you invest in. Please see the "Separate Account Provisions" and Policy Specifications for more details.

Coverage Duration  The duration of coverage will vary based upon changes in the amount, timing and frequency of your premium payments, changes to the coverage under your Policy and any Riders attached to your Policy, and the other factors described in the following sections.

Accumulation Value  The Accumulation Value is a key component of your Policy. The Accumulation Value is the total of the Fixed Account, Separate Account, and the Loan Account. We apply a charge to each premium you pay and then add the balance to the Fixed Account and Separate Account in accordance with your allocation instructions.

On a monthly basis, we deduct the cost of providing the coverage (the Cost of Insurance) and the cost of any additional benefits and/or Riders and administrative charges. This charge is known as the "Monthly Deduction" and is taken from the Fixed Account and any Separate Account in the same proportion as the balances invested in the total of such account(s).

We will deduct a daily Mortality and Expense Risk Charge, if any, from each Sub-Account.

Subject to the guaranteed maximums and guaranteed minimums shown in the Policy Specifications, we can change these charges based on certain contractually identified factors.  We can also change interest rates credited to this Policy at any time based on certain contractually identified factors subject to a minimum rate.

Simply put, premium, interest additions, and positive Separate Account performance increase the Accumulation Value. Both our charges and negative Separate Account performance decrease the Accumulation Value.  If additions exceed deductions, your Accumulation Value increases; if deductions exceed additions, your Accumulation Value decreases.  If the Surrender Value (Accumulation Value, less surrender charge, less Debt) becomes so small that we cannot take an entire Monthly Deduction, your Policy may terminate; see, however, the "Grace Period" provision and the No-Lapse Enhancement Rider.

The length of time your Policy remains In Force will vary based on changes in the following factors:

	
·

	
Frequency, timing, and amount of any premium payment(s).

	
·

	
Policy changes such as loans, partial surrenders, increases or decreases in Specified Amount and the addition or removal of Riders.

	
·

	
Interest credited to your Accumulation Value from the Fixed Account.

	
·

	
Separate Account performance.

	
·

	
Monthly Deductions.

	
·

	
If the No-Lapse Enhancement Rider is attached to your Policy.

	
·

	

Interest  Do not assume that interest rates will remain constant for any extended period of time. We may change interest rates at any time on the Fixed Account and Persistency Bonus based on certain contractually identified factors subject to a guaranteed minimum rate.

Separate Account Performance   Separate Account performance can vary greatly, may increase or decrease on a daily basis, and is not guaranteed. You are able to select, monitor and change Sub-Account choices to meet your objectives or investment conditions.

No-Lapse Enhancement Rider   Your Policy provides for a No-Lapse Enhancement Rider which can ensure that your Policy will continue even if the Surrender Value is insufficient to cover the Monthly Deductions. This Policy will not Lapse as long as the Rider is In Force and all the requirements of either the "No-Lapse Value" provision or the "Reset Account Value" provision are met. The No-Lapse Value and Reset Account Value are reference values only, and are not used to determine the Accumulation Value or the death benefit of your Policy.  The No-Lapse Value and the Reset Account Value are separate and distinct from the Accumulation Value.  It is not accessible to you, or any Beneficiary, at any time for any purpose.

Note that the length of time the No-Lapse Enhancement Rider will keep your Policy In Force may vary based on the factors described in the "Accumulation Value" section of this Summary. While the Rider is actively preventing the Policy from Lapse, sufficient premiums must be paid to meet all requirements of either the "No-Lapse Value" provision or the "Reset Account Value" provision.

Please review the No-Lapse Enhancement Rider attached to your Policy for specific details.

Monitoring Your Policy's Performance  We will send you an Annual Report (Statement of Account) of your Policy to help you monitor your Policy Values and compare it to your objectives when you purchased your Policy. Ask your life insurance agent to explain anything you do not understand.  You may need to adjust your premiums to achieve your insurance objectives. You may submit a Request to us, at any time while your Policy is In Force, an in force projection of future death benefits and Policy Values. We encourage you to submit a Request for an in force projection at least once each Policy Year, subject to the terms of the "Projection of Benefits and Values" provision of this Policy. We are also available to answer your questions and assist you in making changes to your Policy.

(This Page Left Intentionally Blank)

Definitions

Accumulation Value  The sum of (1) the Fixed Account Value plus (2) the Separate Account Value plus (3) the Loan Account Value under this Policy, as described in the "Policy Values Provisions".

Administrator Mailing Address  The Administrator Mailing Address for this Policy is shown on the front cover.

Attained Age (Age)  The Insured's Issue Age plus the number of completed Policy Years that have elapsed since the Policy Date.  The Insured's Attained Age increases by one on each Policy Anniversary.  For purposes of this Policy, the Insured's Attained Age increase will always occur on the Policy Anniversary regardless of when the Insured's actual birthday occurs.

Beneficiary  The person(s) or entity(ies) named in the application for this Policy, unless later changed as provided for by this Policy, to whom we will pay the Death Benefit Proceeds upon the death of the Insured.

Cost of Insurance  The monthly cost of providing life insurance under this Policy.

Date of Issue   The date from which Suicide and Incontestability periods are measured. The Date of Issue is shown in the Policy Specifications.

Death Benefit Proceeds  The amount payable upon the death of the Insured as described in the "Death Benefit Proceeds" provision.

Debt   The total of any outstanding loans against this Policy, including loan interest accrued but not yet charged.  May also be referred to as "Indebtedness".

Due Proof of Death  A certified copy of an official death certificate, a certified copy of a decree of a court of competent jurisdiction as to the finding of death, or any other proof of death satisfactory to us.

Evidence of Insurability   Evidence satisfactory to us related to the health, lifestyle, and financial and other circumstances that may impact the insurability of the Insured.

Fixed Account   An account to which you may allocate your Net Premium Payments and transfer values. The Fixed Account is a part of the Company's general account, and Fixed Account assets are general assets of the Company. Fixed Account principal is not subject to market fluctuation and interest is credited at a rate not less than the Guaranteed Minimum Fixed Account Interest Rate as shown in the Policy Specifications.

In Force   Not terminated for any reason.

Insured  The person whose life is insured under this Policy.

Irrevocable Beneficiary   A Beneficiary named by you as irrevocable.  Any Beneficiary that you designate as irrevocable must provide consent for you to exercise certain ownership rights as specified in this Policy.

Issue Age  The Insured's age nearest birthday on the Policy Date.

Lapse   Terminate without value.

Loan Account   The account in which amounts equal to amounts loaned under this Policy, including charged loan interest, accrue once transferred out of the Fixed Account and Sub-Accounts, as applicable. The Loan Account is part of our general account.

Monthly Anniversary Day   The day of the month shown in the Policy Specifications when we deduct the Monthly Deduction, or the next Valuation Day if the Monthly Anniversary Day is not a Valuation Day.

Monthly Deduction   The amount deducted on each Monthly Anniversary Day from the Surrender Value for certain expenses and the Cost of Insurance, as described in the "Monthly Deduction" provision.

Net Premium Payment  The portion of a premium payment, after deduction of the Premium Load shown in the Table of Expense Charges and Fees in the Policy Specifications, available for allocation to the Fixed Account and any of the Sub- Account(s).

1940 Act   The Investment Company Act of 1940, as amended.

Notice, Election, Request (In Writing)   With respect to any Notice, Election or Request to us, this term means a written form of communication satisfactory to us and received at our Service Office. We retain the right to agree in advance to accept communication by telephone or some other form of transmission, in a manner we prescribe. We will not be responsible for any action we take or allow before we receive a communication at our Service Office. With respect to any Notice, Election or Request from us to you or any other person, this term means a written form of communication by ordinary mail to such person at the most recent address in our records. If agreed to in advance by you, we may also send communication to you by some other form of transmission.

Owner  The person(s) or entity(ies) shown in the Policy Specifications who may exercise rights under this Policy, unless later changed as provided for by this Policy. If no Owner is designated, the Insured will be the Owner.

Policy Anniversary  The same date (month and day) each Policy Year equal to the Policy Date, or the next Valuation Day if the Policy Anniversary is not a Valuation Day.

Policy Date  The date on which life insurance begins if the necessary premium has been paid. This is also the date from which Monthly Anniversary Days, Policy Anniversaries, Policy Months, Policy Years, and Planned Premium due dates are determined.

Policy Month  The period from one Monthly Anniversary Day up to, but not including, the next Monthly Anniversary Day.

Policy Specifications  The pages of this Policy which show your benefits, premium, costs, and other Policy information.

Policy Year(s)   The one year period beginning on the Policy Date and ending one day before the Policy Anniversary and each subsequent one year period beginning on a Policy Anniversary.

Premium Class   The Insured's classification for this Policy, determined by our underwriting evaluation, as shown in the Policy Specifications.

SEC   The Securities and Exchange Commission.

Separate Account   A segregated account including the Sub-Account(s) thereunder, to which Net Premium Payments are, or have been allocated, or amounts may be transferred to. Separate Account assets are not chargeable with the Company's general liabilities. The investment performance of Separate Account assets is kept separate from the Company's general assets.

Specified Amount   The amount you chose which is used to determine the amount of death benefit and the amount of Rider benefits, if any.  The Minimum Specified Amount allowable under this Policy and the Specified Amount at issue ("Initial Specified Amount") are shown in the Policy Specifications. The Specified Amount may be increased or decreased as described in this Policy.

Sub-Account(s)   Divisions of the Separate Account created by the Company to which you may allocate your Net Premium Payments and among which amounts may be transferred.

Surrender Value   The Accumulation Value on the date of surrender or partial surrender, less any Debt, and less any applicable surrender charge shown in the Table of Surrender Charges in the Policy Specifications.

Underlying Fund(s)   The Underlying Funds are the investments within the Sub-Account(s) to which the Net Premium Payments may be allocated. See "Investments of the Sub-Accounts" provision for additional details.

Valuation Day   Any day on which the New York Stock Exchange is open for business, except a day during which trading on the New York Stock Exchange is restricted or on which an SEC-determined emergency exists or on which the valuation or disposal of securities is not reasonably practicable, as determined under applicable law.

Valuation Period   The period beginning immediately after the close of business on a Valuation Day and ending at the close of business on the next Valuation Day.

Variable Accumulation Unit   A unit of measure used to calculate the value of a Sub-Account as described in the "Variable Accumulation Unit Value" provision.

You, your  The Owner(s) of this Policy.

We, our, us  The Company.

The Contract

Entire Contract   This Policy, the application for this Policy, and any Amendment(s), Endorsement(s), Rider(s), and supplemental application(s) that may be attached are the entire contract between you and us. All statements made in the application will, in the absence of fraud, be deemed representations and not warranties. We will not use any statement to contest this Policy unless it is contained in an application and a copy of the application is attached to this Policy when issued.

Changes to Contract Terms  Only an authorized Officer of the Company may make or modify the terms of the Policy or any of its Amendments, Endorsements or Riders. Any such changes must be provided in a Notice in order to be effective.

We reserve the right to make changes in this Policy or to make distributions from this Policy to the extent we deem necessary, in our sole discretion, to continue to qualify this Policy as life insurance. Any such changes will apply uniformly to all Policies that are affected. You will be given advance Notice of such changes.

Non-Participating  This Policy is not entitled to share in surplus distribution.

Misstatement of Age or Sex  If the date of birth or sex of the Insured is misstated, we will adjust the Death Benefit Proceeds to the amounts that would have been purchased by the most recent Cost of Insurance deduction at the correct Issue Age and sex. No adjustment will be made to the Accumulation Value of the Policy.

Incontestability  Except for nonpayment of premium, this Policy will be incontestable after it has been In Force for 2 years from the Date of Issue shown in the Policy Specifications. This means that we will not use any misstatement in the application to challenge a claim or contest liability after that time.

Any increase in the Specified Amount effective after the Date of Issue will be incontestable only after such increase has been In Force for 2 years.  The basis for contesting an increase in Specified Amount will be limited to material misrepresentations made in the supplemental application for the increase.

If this Policy is reinstated, the basis for contesting after reinstatement will be:

	
a.

	
limited to the remainder of the original contestable period, if any, for material misrepresentations made in the original application; and

	
b.

	
limited for a period of 2 years from the date of reinstatement for material misrepresentations made in the reinstatement application.

Ownership

Rights of Owner  While an Insured is living except as provided below and subject to any applicable state law, you may exercise all rights under this Policy including, but not limited to, the right to:

	
a.

	
return this Policy under the "Right to Examine this Policy" provision;

	
b.

	
surrender this Policy;

	
c.

	
agree with us to any change in or amendment to this Policy;

	
d.

	
transfer all your rights to another person or entity;

	
e.

	
change the Beneficiary (unless you specifically submit a Request to not to reserve this right);

	
f.

	
assign this Policy;

	
g.

	
effect a loan;

	
h.

	
effect a transfer to or from the Fixed Account or Sub-Account(s);

	
i.

	
make premium payments that are to be allocated to the Fixed Account or Sub-Account(s);

	
j.

	
effect a partial surrender (i.e. withdrawal); and

	
k.

	
effect a reinstatement.

You must have the consent of any assignee recorded with us to exercise your rights under this Policy. You may exercise your rights subject to the consent of any Irrevocable Beneficiary, subject to any applicable law.

Unless provided otherwise, if you are not the Insured and you die before the Insured, all of your rights under this Policy will transfer and vest in your executors, administrators or assigns.

Transfer of Ownership  You may transfer all of your rights under this Policy by submitting a Request. The Request does not need to be signed by the Beneficiary unless you have designated an Irrevocable Beneficiary.  You may revoke any transfer prior to its effective date by submitting a Request. A transfer of ownership, or a revocation of transfer, will not take effect until recorded by us. Once we have recorded the transfer or revocation of transfer, it will take effect as of the date of the latest signature on the Request. Any payment made or any action taken or allowed by us before we record the transfer or revocation of transfer will be without prejudice to us.

On the effective date of transfer, the transferee will become the Owner and will have all the rights and be subject to the limitations of the Owner as described under the "Rights of Owner" provision of this Policy. Unless you direct us otherwise, a transfer will not affect the interest of any Beneficiary designated prior to the effective date of transfer.

Assignment  Assignment of this Policy must be submitted by Request and will take effect as of the date the assignment is signed. We will not be responsible for any action we take or allow before we receive a communication at our Administrator Mailing Address.  We will not be responsible for the validity or sufficiency of any assignment. While an assignment is in effect, to the extent provided under the terms of the assignment, an assignment will:

	
a.

	
transfer the interest of any designated transferor; and

	
b.

	
transfer the interest of any Beneficiary, unless an Irrevocable Beneficiary has been designated.

Some Important Things You Should Do

	
a.

	
Provide us with any change in your mailing address in a timely manner.

	
b.

	
Pay sufficient premiums on time to keep your Policy In Force.

	
c.

	
Notify us of any change in Beneficiary.

Beneficiary

Beneficiary   You may designate more than one Beneficiary.  If you designate more than one Beneficiary, any Death Benefit Proceeds payable will be paid in equal shares to the survivors in the appropriate Beneficiary class, unless you submit a Request otherwise. If no Beneficiary is alive when the Death Benefit Proceeds become payable or in the absence of any Beneficiary designation, the Death Benefit Proceeds will transfer and vest in you or in your executors, administrators or assigns.

Change of Beneficiary   While the Insured is alive, you may change the Beneficiary by submitting a Request.  Any change will take effect as of the date the Request is signed.  The Insured need not be living when the requested change is recorded by us, however the requested change must be delivered to us prior to the death of the Insured. The Beneficiary does not have to sign the Request unless you have designated an Irrevocable Beneficiary.  Any payment made or any action taken or allowed by us before we record the change of Beneficiary will be without prejudice to us.

Insurance Coverage and Death Benefit Provisions

Date of Coverage   The dates of coverage under this Policy will be as follows:

	
a.

	
For all coverages provided in the original application, the effective date of coverage will be the Policy Date provided the initial premium has been paid and the Policy has been accepted by you (1) while the Insured is living and (2) prior to any change in the Insured's health or any other factor affecting insurability of the Insured as represented in the application for this Policy.

	
b.

	
For any increase, decrease, or addition to coverage, the effective date of coverage will be the Monthly Anniversary Day on or next following the day we approve the application for the increase, decrease, or addition to coverage, and the first month's Cost of Insurance for the increase, if applicable, is deducted as described in the "Increase to Specified Amount" provision, provided the Insured is living on such day.

	
c.

	
For any insurance that has been reinstated, the effective date of coverage will be the date as described in the "Reinstatement" provision.

Termination of Coverage  All coverage under this Policy terminates on the first of the following to occur:

	
a.

	
a full surrender of this Policy;

	
b.

	
the Insured's death; or

	
c.

	
failure to pay the amount of premium necessary to avoid termination before the end of any applicable grace period.

No action by us after this Policy has terminated, including any Monthly Deduction made effective after termination of coverage, will constitute a reinstatement of this Policy or waiver of the termination. Any such deduction will be refunded.

Death Benefit Proceeds  If the Insured dies while this Policy is In Force and upon Notice of Claim, we will pay Death Benefit Proceeds equal to the greater of:

	
a.

	
the Specified Amount on the date of the Insured's death, less any Debt; or

	
b.

	
an amount equal to the Accumulation Value on the date of the Insured's death multiplied by the applicable percentage shown in the Corridor Percentages Table in the Policy Specifications, less any Debt.

Notice of Claim  You or someone on your behalf must provide us with Notice of Due Proof of Death of the Insured within 30 days or as soon as reasonably possible after the death of the Insured.

Income Tax on Death Benefits  This Policy is intended to qualify as life insurance under the Internal Revenue Code so that the Death Benefit Proceeds, not including interest from the date of the Insured's death, will not be taxable as income to the Beneficiary(ies). To do so, this Policy must qualify under one of two tests, the Cash Value Accumulation Test or the Guideline Premium Test as defined in the Internal Revenue Code Section 7702.  The Death Benefit Qualification Test for this Policy is shown in the Policy Specifications and cannot be changed. Unless you Elect otherwise when applying for this Policy, the Death Benefit Qualification Test is the Guideline Premium Test.

Suicide   If the Insured commits suicide, whether sane or insane, within 2 years from the Date of Issue, the Death Benefit Proceeds will be limited to a refund of the premiums paid less any Debt and any partial surrenders.

If the Insured commits suicide, whether sane or insane, within 2 years from the date of any increase in the Specified Amount, the Death Benefit Proceeds with respect to such increase will be limited to a refund of the monthly charges paid for the cost of the increase in the Specified Amount.

Method of Payment  Upon the Insured's death while the Policy is In Force, Death Benefit Proceeds may be paid in a lump sum or left with us for payment under a settlement option that we make available.

Interest on Death Benefit   We will pay interest on any Death Benefit Proceeds payable only as required by applicable law.

Continuation of Coverage After Insured's Attained Age 121  Unless otherwise agreed to by you and us, if this Policy is In Force at the Insured's Attained Age 121 (but not in the grace period), the Separate Account Value, if any, will be transferred to the Fixed Account on the next Policy Anniversary Day after the Insured's Attained Age 121.  No further premium payments will be allowed and we will:

	
a.

	
continue to credit interest to the Fixed Account as described in the "Interest Credited Under Fixed Account" provision;

	
b.

	
no longer charge Monthly Deductions under this Policy;

	
c.

	
not allow any changes to the Specified Amount;

	
d.

	
allow loans and partial surrenders to be taken.  Loan interest rates will apply as shown in the Policy Specifications and loan repayments can continue to be made.  You may repay all or part of a loan at any time while this Policy is In Force; and

	
e.

	
continue this Policy In Force until it is surrendered or the Death Benefit Proceeds become payable.

This provision will not continue any Rider attached to this Policy beyond the date for such Rider's termination, as provided in the Rider.

If this Policy is in the grace period at the Insured's Attained Age 121, you will need to pay the minimum amount required to remove this Policy from the grace period in order to guarantee continuation of this Policy beyond the Insured's Attained Age 121.

With regards to the changes in benefits detailed under this provision, there is some uncertainty whether this Policy would continue to qualify as life insurance in the year the Insured reaches Attained Age 121. There is also some uncertainty whether you would be viewed as constructively receiving the Accumulation Value at any time when this Policy's Accumulation Value is equal to the death benefit. You should consult a tax advisor concerning these issues.

Changes in Insurance Coverage

Upon your Request while the Insured is living, the insurance coverage may be changed as described in this section.

Changes in insurance coverage will be effective on the Monthly Anniversary Day on or next following the date we approve your Request for the change, unless another date acceptable to us is requested.

Increases in Specified Amount  Subject to you providing us with Evidence of Insurability, the Specified Amount may be increased. There is a minimum as to how much it may be increased and a maximum number of times it may be increased. The Minimum Specified Amount Increase, Maximum Number of Specified Amount Increases per Policy Year, and the Maximum Attained Age for a Specified Amount Increase are shown on the Policy Specifications. If you increase the Specified Amount, there will be additional Surrender Charges in the event you request a surrender of this Policy. Please refer to the "Surrender Charge for Full Surrender" provision of this Policy. Other charges, such as the Cost of Insurance and other charges that are calculated based on the Policy's Specified Amount will also be increased.

Decreases in Specified Amount  A decrease in Specified Amount may be made subject to the Minimum Specified Amount Decrease and Maximum Number of Specified Amount Decreases per Policy Year as shown in the Policy Specifications. The Specified Amount may not be decreased below the Minimum Specified Amount shown in the Policy Specifications. Any decrease in Specified Amount will be deducted in the following order: (a) from the most recent Specified Amount increase, if any; (b) successively from the next most recent Specified Amount increase, if any; and (c) from the initial Policy Specified Amount. At least 12 months must elapse after an increase before a decrease in Specified Amount can be made. If you choose to decrease the Specified Amount, a surrender charge, based on the Table of Surrender Charges shown in the Policy Specifications, will be applied as described in the "Surrender Provisions" under the "Charge for Decrease in Specified Amount" provision. Please note that we will not allow a decrease in Specified Amount below the minimum Specified Amount required to maintain the qualification of this Policy as life insurance under the Internal Revenue Code.

Premium Class Changes   Premium Class changes (such as a change in Tobacco User status) may occur upon your Request at any time after the first Policy Year, subject to Evidence of Insurability, and prior to the Insured's Attained Age 121.

Rider and/or Benefit Additions   If available, and subject to any underwriting guidelines and Evidence of Insurability requirements, you may submit a Request that Rider(s) and/or Benefits be added to this Policy after the Policy Date.

Change of Plan   This Policy may be exchanged for another Policy only if we consent to the exchange and all requirements for the exchange as determined by us are met.

Policy Split Prohibition   This Policy may not be split to create more than one individual life insurance policy on the life of the Insured.

Premium and Allocation Provisions

Payment of Premiums  The initial premium is due on the Policy Date and is payable on or before delivery of this Policy. All subsequent premium payments may be made at any time before the Insured's Attained Age 121 and in any amount, subject to the following provisions, unless we agree by Notice. However, sufficient premium must be paid to keep this Policy In Force.  Your premiums are payable in United States currency. We will provide a premium receipt signed by an officer of the Company upon Request as required by the laws of the state in which this Policy is delivered.  Please see "Planned Premiums" provision below.

Premium payments, after the first, can be made as follows:

	
a.

	
through prearranged withdrawals from a checking account or other designated account by contacting the Service Office; or

	
b.

	
sent to any premium address designated by us.

Sufficient premium payments must be paid in order to keep this Policy In Force.  A change in the frequency, timing and amount of any premium payment(s) may decrease or increase the length of time this Policy will remain In Force and additional premium payments may be required.

Planned Premiums    You choose how much premium you will pay and the frequency of such payments (the "Planned Premiums"). The Planned Premium you elected is shown in the Policy Specifications. You may change the amount and frequency of premium payments. Changes in the amounts or frequency of such payments are subject to our approval. Any change in the Planned Premiums may impact the Policy values and benefits. We will send premium reminder notices for the amounts and frequency of payments you establish.

Additional Premiums  You may make additional premium payments in an amount no less than the Minimum Additional Premium Payment Amount as shown on the Policy Specifications at any time before the Insured reaches Attained Age 121. We reserve the right to limit the amount or frequency of any such additional premium payments in accordance with the "Compliance with the Internal Revenue Code" and "Modified Endowment" provisions. We also reserve the right to require Evidence of Insurability for any premium payment that would result in an immediate increase in the difference between the death benefit and the Accumulation Value.  If Evidence of Insurability is not received, the premium, or any portion of the premium, may be returned. Any additional payment we receive will be applied as premium and not to repay any outstanding loans, unless you submit a Request otherwise.

Premium Refund at Death   Any premium paid after the Insured's date of death will be refunded as part of the Death Benefit Proceeds, unless you submit a Request otherwise prior to our payment.

Premium Allocation Instructions   You must provide us with Notice of your premium allocation instructions.  These instructions direct how the Net Premiums will be allocated between the Fixed Account and Separate Account under this Policy.  One hundred percent of each Net Premium Payment must be allocated to these accounts.  Allocations must be made in whole percentages.

All Net Premium Payments received before the end of the Right to Examine Period will be allocated as described in the "Right to Examine this Policy" provision.

Subsequent Net Premium Payments will be allocated on the same basis as the most recent Net Premium Payment unless you submit a Request otherwise.

Account Allocation Instructions   You must provide us with Notice of your account allocation instructions to give further direction for allocating Separate Account Net Premiums among the Sub- Account(s). These allocations must be made in whole percentages, and each set of allocations must total one hundred percent. Your allocations may be changed at any time.

Optional Sub-Account Allocation Programs

Program Participation  You may elect to participate in programs providing for Dollar Cost Averaging or Automatic Rebalancing, but may participate in only one program at a time. Transfers made in conjunction with either of these programs do not count against the free transfers available.

We reserve the right to modify the terms and conditions of, or suspend, these programs upon ninety (90) days advance Notice to you.

Dollar Cost Averaging  Dollar Cost Averaging systematically transfers specified dollar amounts during the first Policy Year from the account(s) specified by you. The Account(s) available from which to transfer funds for Dollar Cost Averaging are shown in the Policy Specifications. Transfer allocations may be made to 1 or more of the other Sub-Account(s) on a monthly basis or quarterly basis.  Allocations may not be made to the same account from which amounts are to be transferred. Dollar Cost Averaging terminates automatically:

	
a.

	
if the value in the account(s) specified by you is insufficient to complete the next transfer;

	
b.

	
7 calendar days after we receive your Request for termination of Dollar Cost Averaging;

	
c.

	
on the first Policy Anniversary; or

	
d.

	
if this Policy is terminated.

Automatic Rebalancing  Automatic Rebalancing periodically restores the percentage of Accumulation Value allocated to each Sub-Account to a level pre-determined by you. The pre-determined level is the allocation initially selected at the time of application, until changed by you.  If Automatic Rebalancing is elected, all Net Premium Payments allocated to the Fixed Account and Sub-Accounts will be subject to Automatic Rebalancing. Automatic Rebalancing will occur on a quarterly, semi-annual or annual basis, as elected by you. If Dollar Cost Averaging is also elected, the first rebalancing will occur after the Dollar Cost Averaging process terminates.

Grace Period, Continuation of Insurance and Reinstatement Provisions

Grace Period  This Policy will enter the grace period if on any Monthly Anniversary Day the Surrender Value is less than the required Monthly Deduction due on the Monthly Anniversary Day for the current Policy Month.

We allow a grace period of 61 days, beginning on the Monthly Anniversary Day for payment of Net Premium Payment sufficient to maintain coverage for three Policy Months from the date this Policy enters the grace period (this would include the cost of Monthly Deductions due and unpaid during the grace period plus an amount sufficient to restore the Surrender Value to cover the cost of the Monthly Deduction due on the Monthly Anniversary Day immediately following the end of the grace period).

If the total amount paid to us during the grace period is not sufficient, all coverage under this Policy will Lapse. However a greater amount will be accepted, as additional premium will be due after the end of this period to maintain coverage for additional Policy Months.

We will send a Notice to you and to any assignee of record at least 31 days before the end of the grace period. The Notice will state the amount of premium as noted above. All coverage under this Policy will Lapse if you do not pay this amount on or before 61 days beginning on the date this Policy enters the grace period.  If the Insured dies within the grace period, we will deduct any overdue Monthly Deductions from the Death Benefit Proceeds. 

As described in the "Loan Provisions", Debt reduces the Surrender Value. Any increase in Debt, including loan interest due but not yet charged, may reduce the Surrender Value, and cause this Policy to enter the grace period.

Continuation of Insurance  If premiums are discontinued on any date, the Surrender Value on that date will be used to provide insurance under this provision. This Policy and all Amendments, Endorsements, and Riders will continue In Force according to their terms for as long as the Surrender Value is sufficient to cover the Monthly Deduction. If the Surrender Value is insufficient, the Policy will terminate according to the "Grace Period" provision.

Reinstatement   If this Policy has Lapsed as described in the "Grace Period" provision, you may reinstate this Policy within 5 years from the date of Lapse provided:

	
a.

	
this Policy has not been surrendered;

	
b.

	
the Insured has not died since the date of Lapse;

	
c.

	
you submit a Request and an application for reinstatement while the Insured is living;

	
d.

	
you submit Evidence of Insurability;

	
e.

	
you pay Net Premium equal to the Monthly Deductions due and unpaid during the grace period;

	
f.

	
you pay enough premium to keep this Policy and any reinstated Riders In Force for at least 2 Policy Months after the date of reinstatement; and

	
g.

	
any accrued loan interest is paid, and any remaining Debt is either paid or reinstated.

In addition to the minimum required payment to keep this Policy In Force as stated in e. and f. above, we recommend that you resume your Planned Premium to provide coverage beyond the initial period following the date of reinstatement.  Please contact us if you need assistance in determining an updated Planned Premium.

The reinstated Policy will be effective as of the Monthly Anniversary Day on or next following the date on which we approve the application for reinstatement.  At the time of reinstatement, the surrender charge will be based on the duration from the original Policy Date as though this Policy had never Lapsed.

Policy Values Provisions

This Policy provides Policy Values which may be available to you for partial surrender, loans or full surrender. They are also used to calculate your Death Benefit Proceeds.  The following provisions describe how these values are calculated.

Accumulation Value   The Accumulation Value on the Policy Date will be equal to all Net Premium Payments made for this Policy as of the Policy Date, minus the Monthly Deduction for the current Policy Month.  The Accumulation Value of this Policy is the sum of the Fixed Account Value, Separate Account Value, and Loan Account Value.  Each of these is defined below.

At any point in time, we adjust the Accumulation Value by:

	
a.

	
adding the amount of Net Premium Payments made.

	
b.

	
subtracting the amount of any partial surrenders.

	
c.

	
adding any increases or subtracting any decreases as a result of market performance in the Sub-Account(s).

	
d.

	
adding interest credited under the Fixed Account and Loan Account.

	
e.

	
adding any Persistency Bonus(es).

	
f.

	
subtracting Monthly Deductions.

	
g.

	
subtracting all other expenses and fees as shown in the Table of Expense Charges and Fees in the Policy Specifications.

Fixed Account Value   At any point in time, we adjust the Fixed Account Value by:

	
a.

	
adding the amount of the Net Premium Payments allocated or other amounts transferred to the Fixed Account;

	
b.

	
subtracting the amount of any transfer from the Fixed Account;

	
c.

	
subtracting any portion of the Monthly Deduction deducted for the current Policy Month;

	
d.

	
subtracting any portion of a partial surrender deducted;

	
e.

	
subtracting any portion of the surrender charges due to any decrease in Specified Amount;

	
f.

	
adding any portion of loan interest crediting;

	
g.

	
adding any portion of the Persistency Bonus credited;

	
h.

	
adding daily interest credited as explained in the "Interest Credited Under Fixed Account" provision.

Separate Account Value  The Separate Account Value, if any, for any Valuation Period is equal to the sum of the then stated values of all Sub-Account(s) under this Policy. The stated value of each Sub-Account is equal to:

	
a.

	
the number of Variable Accumulation Units, if any, credited or debited to such Sub-Account with respect to this Policy;

	
b.

	
multiplied by the Variable Accumulation Unit Value of the particular Sub-Account for such Valuation Period.

Variable Accumulation Unit Value  Net Premium Payments, or any portion of Net Premium Payments, allocated, or amounts transferred, to each Sub-Account are converted into Variable Accumulation Units by dividing the amount allocated or transferred by the unit value of the applicable Sub-Account on the date of the conversion.

The Variable Accumulation Unit Value for a Sub-Account for any Valuation Period after the inception of the Sub-Account is equal to (a) minus (b), divided by (c), where:

	
(a)

	
is the total value of Underlying Fund shares held in the Sub-Account, (calculated as (a) the number of Underlying Fund shares owned by the Sub-Account at the beginning of the Valuation Period multiplied by (b) the net asset value per share of the Underlying Fund at the end of the Valuation Period, plus (c) any dividend or other distribution of the Underlying Fund made during the Valuation Period);

	
(b)

	
is the liabilities of the Sub-Account at the end of the Valuation Period. Such liabilities include a daily charge imposed on the Sub-Account, if any, and may also include a charge or credit with respect to any taxes paid or reserved for by the Company that we determine result from the operations of the Separate Account; and

	
(c)

	
is the number of Variable Accumulation Units for that Sub-Account outstanding at the beginning of the Valuation Period.

The daily charge imposed on a Sub-Account for any Valuation Period is equal to the M&E charge, if any, described in the "Mortality and Expense Risk ("M&E") Charge" provision, multiplied by the number of calendar days in the Valuation Period.  The Variable Accumulation Unit value may increase or decrease from Valuation Period to Valuation Period.

Loan Account Value  The Loan Account Value, if any, with respect to this Policy, is the amount of any outstanding loan(s), including any interest charged on the loan(s), less any amounts as described under the "Loan Repayment" provision taking into account the amounts described in the "Interest Credited Under Loan Account" provision.

Interest Credited Under Fixed Account  We will credit interest to the Fixed Account daily. The interest rate applied to the Fixed Account will never be less than the Guaranteed Minimum Fixed Account Interest Rate shown in the Policy Specifications.  Interest in excess of the guaranteed rate may be applied as determined by us. Such interest is referred to in this Policy as excess interest and is not guaranteed. Interest will begin to accumulate as of the date the Net Premium Payment or any value is directed to the Fixed Account.

Interest Credited Under Loan Account  We will credit interest to the Loan Account daily. The interest rate applied to the Loan Account is shown in the Policy Specifications. Such loan interest amount will be transferred on each Monthly Anniversary Day on the same basis as the most recent Net Premium Payment allocations.

Mortality and Expense Risk ("M&E") Charge  We will subtract a mortality and expense risk ("M&E") charge, if any, from each Sub-Account at the end of each Valuation Period. This charge will not exceed the following:

	
a.

	
the Guaranteed Maximum Mortality and Expense Risk Daily Charge Rate;

	
b.

	
multiplied by the value of the Sub-Account; and

	
c.

	
multiplied by the number of calendar days in the Valuation Period.

The rate used to calculate this charge is guaranteed not to exceed the Guaranteed Maximum M&E Charge Rate shown in the Table of Expense Charges and Fees in the Policy Specifications.

Fees Associated with the Underlying Funds   Underlying Fund operating expenses may be deducted by each Underlying Fund as set forth in its prospectus.

Persistency Bonus  Beginning with the Policy Year shown in the Policy Specifications and on each Monthly Anniversary Day thereafter, we will credit a Persistency Bonus to the Fixed Account and any of the Sub-Account(s) in the same proportion as the balances invested in the total of such account(s) as of the date the credit is applied. The Persistency Bonus for a Policy Month will no less than:

	
a.

	
the monthly Guaranteed Minimum Persistency Bonus Rate Credited to Fixed Account and Sub-Account(s) shown in the Policy Specifications;

	
b.

	
multiplied by the Fixed Account Value plus the Separate Account Value.

A higher Persistency Bonus Rate may be applied as determined by us.

Monthly Deduction   Each Policy Month, beginning with the Policy Date and on each Monthly Anniversary Day thereafter, we will subtract the Monthly Deduction from the Fixed Account and any Sub-Account(s) in the same proportion as the balances invested in the total of such account(s) as of the date on which the deduction is made, unless otherwise agreed to by you and us In Writing.

The Monthly Deduction for a Policy Month equals:

	
a.

	
the Monthly Administrative Fee not to exceed the Guaranteed Maximum Monthly Administrative Fee as described in the Table of Expense Charges and Fees in the Policy Specifications;

	
b.

	
plus the Cost of Insurance as described in the "Cost of Insurance" provision;

	
c.

	
plus the monthly cost of any Riders and optional benefits.

Cost of Insurance   This Policy's monthly Cost of Insurance will be equal to (a) multiplied by the result of (b) minus (c), where:

	
(a)

	
is the Cost of Insurance rate as described in the "Cost of Insurance Rates" provision;

	
(b)

	
is the death benefit at the beginning of the Policy Month, divided by the Net Amount at Risk Discount Factor shown in the Policy Specifications, divided by 1,000; and

	
(c)

	
is the Accumulation Value at the beginning of the Policy Month after the deduction of the Monthly Administrative Fee but prior to the deduction for the monthly Cost of Insurance, divided by 1,000.

Cost of Insurance Rates  The monthly Cost of Insurance Rates are determined by us. The Cost of Insurance Rates will not exceed the amounts described in the Policy Specifications. We may use rates lower than the guaranteed maximum rates.

If the Insured is in a rated Premium Class, the monthly Cost of Insurance rates equal:

	
a.

	
the then applicable Cost of Insurance Rate;

	
b.

	
multiplied by the Risk Factor, if any, shown in the Policy Specifications;

	
c.

	
plus the applicable Flat Extra charge, if any, shown in the Policy Specifications.

Basis of Values   Minimum Policy values are based on the mortality assumptions and interest rates shown in the Policy Specifications.  The values of this Policy are at least equal to the minimum required by law.  If required, a detailed statement of the method used to determine Policy Values and reserves has been filed with the state in which this Policy is delivered.

Changes in Rates and Charges  Subject to the guaranteed maximums and guaranteed minimums shown in the Policy Specifications, we may change the rates and charges that apply to your Policy. Among the rates and charges that can change are the monthly Cost of Insurance Rates, excess interest rates credited to the Fixed Account, Persistency Bonus Rate, mortality and expense charges and administrative fees. We will not make any changes to these rates and charges in order to distribute past gains or recoup past losses.

If a change in Cost of Insurance Rates is made, it will be based on our expectations at that time as to future cost factors, which may include, but are not limited to mortality, investment earnings, persistency, expenses (including reinsurance costs and taxes), policy funding, net amount at risk, loan utilization, capital requirements, and reserve requirements.  Any change will apply uniformly to all individuals of the same Premium Class and policy duration as the Insured.

Separate Account Provisions

Separate Account   You may allocate your Net Premium Payments and Accumulation Value (except for Loan Account Value) to the Sub-Account(s), which are divisions of the Separate Account shown in the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of the Separate Account (except assets in excess of the reserves and other contract liabilities of the Separate Account) will not be chargeable with liabilities arising out of any other business conducted by us. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets.

We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued.

Sub-Accounts  The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any time.

Investments of the Sub-Accounts  All amounts allocated or transferred to a Sub-Account will be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company.  After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a number of Underlying Fund shares at a net asset value equal in total value to the amount to be deducted.

Investment Risk  Underlying Fund share values fluctuate, reflecting the risks of changing economic conditions and the ability of an Underlying Fund's investment adviser or sub-adviser to manage that Underlying Fund and anticipate changes in economic conditions. You bear the entire investment risk of gain or loss of the Separate Account assets under this Policy.

Underlying Fund Withdrawal and Substituted Securities   If a particular Underlying Fund ceases to be available for investment, or if we determine that further investment in a particular Underlying Fund is not appropriate in view of the purposes of the Separate Account (including without limitation that it is not appropriate in light of legal, regulatory or Federal income tax considerations), we may withdraw that particular Underlying Fund as a possible investment under the Separate Account and may substitute shares of a new or different Underlying Fund for shares of the withdrawn Underlying Fund. We will obtain any necessary regulatory or other approvals prior to taking this action. We may make appropriate Endorsements to this Policy to the extent reasonably required to reflect any withdrawal or substitution.

Transfer Privilege Provisions

Transfer Privilege  At any time while this Policy is In Force, other than during the Right to Examine Period, you have the right to transfer amounts among the Fixed Account and Sub-Account(s) available under this Policy, subject to the "Rights of Owner" provision. All such transfers are subject to the following:

	
a.

	
Transfers may be made by Request, subject to our consent. Our consent is revocable upon Notice to you.

	
b.

	
Transfer Requests must be received in a form acceptable to us at the Administrator Mailing Address prior to the time of day set forth in the prospectus and on a Valuation Day in order to be processed as of the close of business on the date the request is received; otherwise, the transfer will be processed on the next Valuation Day.

	
c.

	
We will not be responsible for (1) any liability for acting in good faith upon any transfer instructions given by internet or telephone, or (2) the authenticity of such instructions.

	
d.

	
A single transfer Request may consist of multiple transactions.

	
e.

	
The amount being transferred may not exceed the maximum transfer amount limit, if any then in effect as established by an Underlying Fund to which you have premium allocated.

	
f.

	
The amount being transferred may not be less than the Minimum Transfer Amount shown in the Policy Specifications unless the entire value of the Fixed Account or Sub-Account is being transferred.

	
g.

	
Any value remaining in the Fixed Account or a Sub-Account following a transfer may not be less than the Minimum Remaining Value of the Fixed Account or any Sub-Account(s) After a Transfer as shown in the Policy Specifications.

	
h.

	
Transfers involving Sub-Account(s) will reflect the purchase or cancellation of Variable Accumulation Units having an aggregate value equal to the dollar amount being transferred to or from a particular Sub-Account. The purchase or cancellation of such units will be made using Variable Accumulation Unit Values of the applicable Sub-Account for the Valuation Period during which the transfer is effective. Transfers involving Sub-Accounts will be subject to such additional terms and conditions as may be imposed by the corresponding Underlying Funds.

Transfer Fees  We reserve the right to charge a fee for each transfer request in excess of the Policy Year's maximum number of transfers as shown in Policy Specifications. The Transfer Fee will not exceed the Transfer Fee shown in the Table of Expense Charges and Fees of the Policy Specifications. Transfer fees may be deducted on a pro-rata basis from the Fixed Account and/or Sub-Account(s) from which the transfer is being made.

Transfers from the Fixed Account   Transfers from the Fixed Account will not be made prior to the first Policy Anniversary except as provided under the Dollar Cost Averaging or Automatic Rebalancing programs. The amount of all transfers in any Policy Year will not exceed the amount shown under the Limitations on Transfers from the Fixed Account in the Policy Specifications.  We reserve the right to waive this limit.

Transfers From a Sub-Account  Transfers which request that amounts be transferred from one or more Sub-Account(s) may be:

	
a.

	
refused if the Underlying Fund refuses a transfer request from us; or

	
b.

	
restricted or prohibited, based upon instructions received from the Underlying Fund as a result of the review of information about your trading activity which we have provided to the Underlying Fund.

Change of Terms and Conditions  We reserve the right to change the terms and conditions of the "Transfer Privilege Provisions" in response to changes in legal or regulatory requirements. Further, we reserve, at our sole discretion, the right to limit or modify transfers that may have an adverse effect on other Policy Owners.  Transfer rights may be restricted in any manner or terminated until the beginning of the next Policy Year if we determine that your use of the transfer right may disadvantage other Policy Owners.

Surrender Provisions

Surrender   Upon Request, you may surrender this Policy for its Surrender Value while this Policy is In Force and the Insured is living. Surrender of this Policy is effective on the Valuation Day we receive both this Policy and your Request for surrender. All coverage under this Policy will terminate upon surrender for its Surrender Value.

The Surrender Value will be paid in a lump sum unless you choose a settlement option we make available.  Any deferment of payments will be subject to the "Deferment of Payments" provision.

Surrender Charges  If you submit a Request for either a full surrender of this Policy or a decrease in Specified Amount, a charge will be assessed based on the Table of Surrender Charges shown in the Policy Specifications, subject to the conditions described in the provisions below.

Charge for Decrease in Specified Amount  For decreases in Specified Amount, excluding full surrender of this Policy, the surrender charge, if any, will be calculated as described in the Table of Surrender Charges in the Policy Specifications.

The amount of any charge for a decrease in Specified Amount will be deducted from the Fixed Account and any Sub- Account(s) in the same proportion as the balances invested in the total of such account(s) as of the date on which the deduction is made.

We may limit Requests for decreases in Specified Amount to the extent there is insufficient Surrender Value to cover the necessary charges.

Surrender Charge for Full Surrender  Upon full surrender of this Policy, the surrender charge equals:

	
a.

	
the entire amount shown in the Table of Surrender Charges in the Policy Specifications;

	
b.

	
multiplied by one minus the percentage of Initial Specified Amount for which a surrender charge was previously assessed, if any.

In no event will the charge assessed upon a full surrender exceed the then current Accumulation Value less any Debt.

A new schedule of surrender charges will apply with respect to each increase in Specified Amount. For purposes of calculating charges for full surrenders of, or decreases in, such increased Specified Amounts, the amount of the increase will be considered a new "Initial Specified Amount".

Partial Surrender (i.e. Withdrawal)   Upon Request and subject to our consent, you may make a partial surrender from this Policy on any Valuation Day while this Policy is In Force. Our consent is revocable upon Notice to you. Any deferment of payment of a partial surrender will be subject to the "Deferment of Payments" provision.

The amount of the partial surrender Requested is subject to the Amount of Partial Surrenders as shown in the Policy Specifications.

The Specified Amount remaining after the partial surrender must be greater than the Minimum Specified Amount shown in the Policy Specifications. The amount of the partial surrender will be withdrawn from the Fixed Account and/or Sub- Account(s) in the same proportion as the balances invested in the total of such account(s) as of the date on which the deduction is made.

Any surrender from Sub-Account(s) will result in the cancellation of Variable Accumulation Units which have an aggregate value on the date of the surrender equal to the total amount by which each Sub-Account is reduced. The cancellation of such units will be based on the Variable Accumulation Unit Value of each Sub-Account determined at the close of the Valuation Period during which the surrender is effective.

Effect of Partial Surrenders on Accumulation Value and Specified Amount  As of the end of the Valuation Day on which there is a partial surrender, the Accumulation Value will be reduced by the amount of the partial surrender.

The Death Benefit Proceeds will be reduced. The Specified Amount may also be reduced.  The amount of the reduction will be equal to the greater of:

	
a.

	
zero; or

	
b.

	
an amount equal to the amount of the partial surrender minus the greater of i) zero or ii) the result of [(1) minus (2)] divided by (3), where:

	
(1)

	
is an amount equal to the Accumulation Value on the Valuation Day immediately prior to the partial surrender multiplied by the applicable percentage shown in the Corridor Percentages Table in the Policy Specifications;

	
(2)

	
is the Specified Amount immediately prior to the partial surrender; and

	
(3)

	
is the applicable percentage shown in the Corridor Percentages Table in the Policy Specifications.

Loan Provisions

Loans   If this Policy has Surrender Value available, we will grant a loan against the Policy provided:

	
a.

	
a loan agreement is properly executed; and

	
b.

	
you make a satisfactory assignment of this Policy to us.

A loan may be for any amount up to the then current Surrender Value.  We reserve the right to limit the amount on any loan to 90% of the current Surrender Value.  The amount borrowed will be paid within 7 calendar days of our receipt of your loan Request, except as specified in the "Deferment of Payments" provision.

Surrender Value enhancements provided under any Rider that may be attached to your Policy are not included in the amounts available for a loan.

The Minimum Loan Amount is shown in the Policy Specifications.  We reserve the right to modify this amount in the future.

We will withdraw such loan from the Fixed Account and/or the Sub-Account(s) in the same proportion as the balances invested in the total of such account(s). Such amounts will become part of the Loan Account. The outstanding loan balance at any time includes accrued interest.

Loan Account   An amount equal to the amount of any loan will be transferred out of the Fixed Account and/or Sub-Account(s), as described above, and into the Loan Account. Interest will be credited to the Loan Account as described in the "Interest Credited Under Loan Account" provision.  Please refer to the "Loan Account Value" provision.

Interest Rate Charged on Loan Account   Interest charged on the Loan Account will be at an annual rate as shown in the Policy Specifications, payable in arrears. Interest charged on the Loan Account accrues daily and is payable on each Policy Anniversary or as otherwise agreed to In Writing by you and us. If you do not pay the interest when it is due, the loan interest amount will be transferred out of the Fixed Account and any Sub-Account(s) in the same proportion as the balances invested in the total of such account(s) and into the Loan Account, unless both you and we agree otherwise by Request.

Loan Repayment   Debt may be repaid at any time during the lifetime of the Insured. The minimum loan repayment is the Minimum Loan Repayment Amount shown in the Policy Specifications or the amount of the outstanding Debt, if less.

The Debt and the Loan Account Value will be reduced by the amount of any loan repayment. Any repayment of Debt, other than loan interest, will be allocated to the Fixed Account and/or Sub-Account(s) in the same proportion in which Net Premium Payments are currently allocated.

Debt   A loan against this Policy, unless repaid, will have an effect on the Surrender Value. A loan reduces the then Surrender Value while repayment of a loan increases the Surrender Value. Any Debt at time of settlement will reduce the Death Benefit Proceeds payable under this Policy.

If at any time the total Debt against this Policy, including interest accrued but not due, equals or exceeds the then current Accumulation Value less any applicable surrender charge, the Policy will enter the grace period as described in the "Grace Period" provision.

General Provisions

Annual Report  We will send you a report at least once a year without charge showing the activity of this Policy for the past Policy Year. The report will show:

	
a.

	
the Accumulation Value as of the reporting date;

	
b.

	
premiums paid, interest and amount credited to the Accumulation Value since the last report;

	
c.

	
the current death benefit;

	
d.

	
the current Policy values;

	
e.

	
any Premium Load, Administrative Fees, Monthly Deductions, Cost of Insurance, and partial surrenders deducted since the last report; and

	
f.

	
outstanding Debt.

This report will also include any other information required under the laws and regulations of the state in which this Policy is delivered.

Compliance with the Internal Revenue Code   This Policy is intended to qualify as life insurance under the Internal Revenue Code.  The Death Benefit Proceeds provided by this Policy are intended to qualify for the tax treatment accorded to life insurance under Federal law.  If at any time the premium paid under this Policy exceeds the amount allowable for such qualification, we will refund the premium to you with interest within 60 days after the end of the Policy Year in which the premium was received. The interest rate used on any refund will be the excess premium's pro rata rate of return on the contract until the date we notify you that the excess premium and the earnings on such excess premium have been removed from this Policy.  Any interest may be taxable to you.

We reserve the right to increase the Death Benefit (which may result in larger charges under this Policy) or to take any other action deemed necessary to maintain this Policy's compliance with the federal tax definition of life insurance. We also reserve the right to refuse to make any change in the Specified Amount or any other change if such change would cause this Policy to fail to qualify as life insurance under the Internal Revenue Code.

Deferment of Payments  Any amounts payable as a result of loans, full surrender, or partial surrenders (i.e. withdrawals) will be paid within 7 calendar days after we receive your Request.  However, payment of amounts from the Sub-Account(s) may be postponed until the next Valuation Day. Additionally, we reserve the right to defer the payment of such amounts from the Fixed Account for up to 6 months from the date we receive your Request. During any such deferred period, the amount payable will bear interest as required by law. However, a loan or partial surrender for payment of premium to us will not be deferred.

Modified Endowment  Only with your Election, provided at the time of application or a later date, will this Policy be allowed to become a modified endowment contract under the Internal Revenue Code. Otherwise, if at any time the premiums paid under this Policy exceed the limit for avoiding modified endowment contract status, the excess premium will be held in a separate deposit fund, credited with interest, and will be used to pay future premium payments. The funds held in the separate deposit fund are not considered part of your Accumulation Value, and any interest may be taxable and you should consult a tax advisor if you have questions regarding this. If you instead elect to have the excess premium refunded to you, we will refund the excess premium to you with interest within sixty days after the end of the Policy Year in which the premium was received. The interest rate used on any refund or credited to the separate deposit fund created by this provision will be a rate of interest that we declare from time to time.  Any interest may be taxable to you.

Payment of Proceeds  Proceeds mean the amount payable:

	
a.

	
upon the full surrender of this Policy; or

	
b.

	
upon the Insured's death.

Upon the Insured's death, while this Policy is still In Force, the Proceeds payable will be the Death Benefit Proceeds. Such Death Benefit Proceeds are payable subject to receipt of Due Proof of Death of the Insured.  If the Insured dies within the grace period, we will deduct any overdue Monthly Deductions from the Death Benefit Proceeds plus interest, if applicable.

If this Policy is surrendered before the Insured's death, the Proceeds payable upon full surrender will be the Surrender Value.

The Proceeds payable under this Policy are subject to the adjustments described in the following provisions:

	
a.

	
"Misstatement of Age or Sex";

	
b.

	
"Incontestability";

	
c.

	
"Suicide";

	
d.

	
"Effect of Partial Surrenders on Accumulation Value and Specified Amount";

	
e.

	
"Grace Period";

	
f.

	
"Debt"; and

	
g.

	
"Premium Refund" at the Insured's Death.

We may require return of this Policy when settlement is made. Proceeds will be paid in a lump sum unless you choose a settlement option we make available.

Projection of Benefits and Values   Upon your Request, we will provide a projection of illustrative future Death Benefit Proceeds and Policy values once a year without charge. Additional projections are available at any time upon Request. If you Request more than one projection in a year, we reserve the right to charge a reasonable fee for each additional projection.

Effect of Policy on Riders Provisions

Effect of Policy on Riders   Any reference to the following terms contained in any Rider attached to this Policy will be modified as follows:

	
a.

	
"Variable Account" will mean "Separate Account" as defined in this Policy;

	
b.

	
"Date of Issue" will mean "Policy Date" as defined in this Policy;

	
c.

	
"Schedule 1" will mean "Table of Surrender Charges shown in the Policy Specifications"; and

	
d.

	
"Schedule 4" will mean "Corridor Percentages Table shown in the Policy Specifications".

If any of the following Riders or Endorsements are attached to this Policy, the Riders and Endorsements will be amended as follows:

Accelerated Benefits Rider: "Cash Value" will mean "Accumulation Value" as defined in this Policy. In addition, item (4) of the "Termination" provision is revised to read "Upon the Insured's Attained Age 121".

Change of Insured Benefit Rider: "Net Accumulation Value" will mean "Surrender Value" as defined in this Policy.

Waiver of Monthly Deduction Benefit Rider: The Death Benefit Option will not change as stated in the "Change in Death Benefit" "provision.

Premium Reserve Rider: "Net Accumulation Value" will mean "Surrender Value" as defined in this Policy.  In the "Death Benefit Options" provision, Death Benefit Option 1 (Level) will apply to this Policy.

Effect of Riders on Policy Provisions

Effect of Riders on Policy Provisions  If any Riders are attached to and made part of this Policy, Policy provisions and definitions may be impacted, including those concerning premiums and Policy values. READ YOUR POLICY AND RIDERS CAREFULLY.

Settlement Options

Payment  When the Insured dies while this Policy is In Force, the Death Benefit Proceeds may be paid in a lump sum or left with us for payment under a settlement option that we make available.

The amount applied under an option for the benefit of any Beneficiary must be at least $2,500.00.  The amount of each payment under an option must be at least $25.00.

You may make, change or revoke an Election at any time prior to the Insured's death. Following the Insured's death, a Beneficiary may elect an option if you have not elected one or if Death Benefit Proceeds are payable in one sum. A Beneficiary will always have the option to receive a lump sum payment, but otherwise may make a change in payment under a settlement option you elect only if you provided for it in your Election.

A change of Beneficiary automatically cancels a previous Election of a settlement option.

If this Policy is assigned, the assignee's portion of Death Benefit Proceeds will be paid in one sum. Any balance of Death Benefit Proceeds may be applied under a settlement option.

Claims of Creditors   The Death Benefit Proceeds and any income payments under this Policy will be exempt from the claims of creditors to the extent permitted by law.

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The Lincoln National Life Insurance Company

INDIVIDUAL FLEXIBLE PREMIUM VARIABLE ADJUSTABLE LIFE INSURANCE POLICY

Death Benefit Proceeds are payable if the Insured dies while this Policy is In Force. Investment results are reflected in Policy benefits.  The Surrender Value is payable upon surrender of this Policy.  Flexible premiums are payable to the earlier of the Insured's Attained Age 121 or the Insured's death. Planned Premium payments and additional Riders and/or benefits are shown in the Policy Specifications.  This Policy is non-participating; it is not eligible for dividends.

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