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WA <br />AN-700 (03/21) 10 Alliance 2021 <br /> <br />ARTICLE 6 – CONTRACT TERMINATION <br />Section <br /> <br />6.01 Notwithstanding our rights specified in 6.02, You may terminate this Contract at any time by <br />giving Notice of Contract Termination at least 90 days but not more than 180 days in advance of <br />the Payout Initiation Date and electing one of the Payment Options shown on the Contract <br />Specifications Page. The Notice of Contract Termination must specify the Payout Initiation Date. <br />Upon Our receipt of Notice of Contract Termination, the Company will immediately begin the <br />process of terminating the Contract and will make the appropriate payout according to the timing <br />specified under the payment option selected by You. The Notice of Contract Termination and <br />Payment Option direction may not be rescinded or modified without the mutual agreement of the <br />parties. <br /> <br />6.02 We may give you Notice of Contract Termination that this Contract is to be terminated if: <br /> <br />a. any charges billed to you have not been paid to Us within 30 days; or <br /> <br />b. the Plan ceases to meet the requirements of the Code for purchasers of this Contract; or <br /> <br />c. at any time following the end of the third Contract Year, th e Contract Owner Account is less <br />than $15,000; or <br /> <br />d. at any time following the end of the third Contract Year, there is no deposit activity for a 24 <br />consecutive month period and the Contract Owner Account is less than $50,000; or <br /> <br />e. You fail to furnish requested information or other documentation; or <br /> <br />f. We discover any misrepresentation of material information that was either intentional or <br />materially affected either the acceptance of the risk or the hazard assumed by Us; or <br /> <br />g. If we discontinue offering this Contract form to the public; or <br /> <br />h. If the Plan terminates the recordkeeping agreement with Us or one of our affiliates; or <br /> <br />i. If the risk profiles of the Plan including other fund options, change such as to alter the risk We <br />intended to assume. <br /> <br />The Notice of Contract Termination will specify a Payout Initiation Date which for items a. through <br />h. above will be at least 90 days from the date of the Notice of Contract Termination, and for item <br />i. above will be at least 180 days. If no Payment Option shown on the Contract Specifications is <br />selected by You within 45 days from the date of the Notice of Contract Termination, the Book <br />Value Installment Option will be utilized and the amount due will be distributed to the Contract <br />Owner or Plan Sponsor; if no Book Value Installment Option is shown on the Contract <br />Specifications, the Market Value Payment Option will be utilized. <br /> <br />6.03 All payments will be made to the Contract Owner. We will rely on Your Notice to transfer assets to <br />a specified party. We do not need to verify that such specified party has the right to receive any <br />payments. <br /> <br />6.04 This Contract will terminate on the Contract Termination Date. <br /> <br />6.05 No Contributions will be accepted after the Payout Initiation Date and no withdrawals will be <br />permitted except under Section 4.01 as stipulated herein. <br /> <br /> <br />