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AN-700 (03/21) 8 Alliance 2021 <br /> <br />2. Withdrawals that are the result of establishing an automatic investment allocation program or <br />changing an existing methodology for determining automatic investment allocations will be <br />subject to a Market Value Adjustment calculated pursuant to the formula described below; <br /> <br />3. Withdrawals will be subject to any Additional Withdrawal Limitations that may be specified on <br />the Contract Specifications; <br /> <br />Market Value Adjustment Formula – If a requested withdrawal is subject to a Market Value <br />Adjustment, the amount paid will be adjusted as follows: <br /> <br />For any participant-initiated withdrawals, as of the date of the requested withdrawal, the amount <br />paid will be the greater of: <br />a) The product of the requested withdrawal and the Market Value Factor under the <br />Market Value Payment Option on the Contract Specifications, and <br />b) The requested withdrawal multiplied by the Participant’s Minimum Cash Surrender <br />Value divided by the Participant’s Account Balance. <br /> <br />Contract Owner initiated withdrawals of the Contract Owner Account will also be subject to the <br />same restrictions of this section 4.01(c) and will apply to the portion of the Contract Owner <br />Account not attributable to Participants. <br /> <br />The Contract Owner Account will be reduced by the amount of the requested withdrawal. <br /> <br />4.02 You agree that no Prohibited Participant Communications will be generated nor distributed unless <br />agreed to in advance by the Company. If Prohibited Participant Communications occur, the <br />Company will assess a Market Value Adjustment on withdrawals occurring after such Prohibited <br />Participant Communication as described in Section 4.01. The Market Value Adjustment will also <br />apply to any amounts payable under Payment Options Upon Contract Termination shown on the <br />Contract Specifications. <br /> <br />4.03 You must submit withdrawal Requests to Us at our Service Office, with proof of the event giving rise <br />to any withdrawal under this Contract. <br /> <br />4.04 Total withdrawals on any one day will be limited to the Book Value. <br /> <br />4.05 Refer to the Contract Specifications for any additional withdrawal provisions or limitations that may <br />apply. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />