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GROUP FU1rIDING AGREEMENT SPECIFICATIONS <br />GROUP FUNDING AGR~iT OWNER City of San Leandro <br />GROUP FUNDING AGREEMENT EFFECTIVE DATE; 1vlarch 1, 2004 <br />GROUP FUNDING A NRISDICTION: California <br />GROUP FUNDING AGREEMENT NUMBER GC-150079 <br />GROUP FUNDING AGREEMINT <br />(hereinafter referred to as the "GFA"} <br />General Account <br />Contributions shall be credited with interest at a rate declared for the calendar quarter in which <br />they are received. 'This rate will be guaranteed to the end of the applicable calendar year. The <br />declared interest rate for any quarter shall be determined by the Compaq and may be changed <br />for a~ subsequent quarter at the discretion of the Company. -For purposes of this Section, the <br />term "quarter" shall mean a three (3) month period commencing with January 1, April 1, July 1 <br />or October 1, whichever is applicable. <br />For each subsequent calendar year, Contributions will be guaranteed an interest rate for the <br />calendar year (the "Guaranteed Interest Rate''') and such rate will, never be less than 3p/o. A~ <br />change in the declared or guaranteed interest rate by the Company will be declared in advance of <br />the period far which it is to become effective. <br />Notwithstanding anything in this GFA to the contrary, the 1/6 withdrawal and transfer <br />limitations $s referenced. in Section 3(d} of this GFA are not applicable. <br />Separate Account(s) <br />The Separate Account of the Company supporting the GFA is entitled Separate Account 457. <br />'The various Invesment Sub-Accounts under flus GF,A and the corresponding investment Funds <br />for each Sub-Account are set forth in the most recent Administrative Notace which is a#arhed to <br />and made part of this GFA <br />Assets for the Investment Option Sub-Accounts in Coup A or B -are valued using Method Two <br />as defined in Section 6, `valuation Provisions" o~ tbis GFA <br />The Deduction for Program and Administrative Expenses for assets under Investmennt Option <br />Sub-Account(s) Cuoup A or B will be set at 2.00% or as set forth in the most recent <br />Administrative Notice of ~e average daily net assets for such Options, subject to further <br />provisions of the Deduction for Program and Administrative Expenses Section of this GFA <br />The Company reserves the right, subj ect to compliance with applicable law, to substitute ~e <br />shares of arty other registered investment company for the shares of any Fund held by a Separate <br />HI,-16553 <br />