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PREMIUMS AND PREMIUM RATES PAYMENT OF PREMIUMS. No coverage provided by this Policy will be in effect until the first premium for such coverage is paid. For coverage to remain in effect, each subsequent premium must be paid on or before its due date. The Group 0,olicyholder is responsible for paying all premiums as they become due. Premiums are payable on or before their due dates at the Company's Home Office. The premium must be paid in U.S. dollars. PREMIUM RATE CHANGE. The Company may change any premium rate on any of the following dates: (1) the date this Policy's terms are changed; (2) the date the Company's liability is changed due to a change in federal, state or local law; (3) the date the Group Policyholder (or any covered division, subsidiary or affiliated company) relocates, or is added to or removed from this Policy; (4) the date the number of Insured Persons changes by 25% or more from the enrollment on the date this Policy took effect, or the most recent Rate Guarantee Date expired, if later; or (5) on any premium due date on or after this Policy's first anniversary, or any later Rate Guarantee Date agreed upon by the Company. Unless the Company and the Group Policyholder agree otherwise, the Company will give at least 45 days' advance written notice of any increase in premium rates. PREMIUM AMOUNT. The amount of premium due on each due date will be the sum of the products obtained by multiplying each rate shown in the Premium Rate Schedule by the amount of insurance to which the rate applies. Premium adjustments will not be pro -rated daily. Instead, premium will be adjusted as follows. (1) When an Insured Person's insurance or increase takes effect, premium will be charged from the monthly due date coinciding with or next following that change. (2) When all or part of an Insured Person's insurance terminates, the applicable premium will cease on the monthly due date coinciding with or next following that termination. (3) When premiums are paid other than monthly, increases or decreases will result in adjustment from the premium due date coinciding with or next following that change. The above manner of charging premium is for accounting purposes only. It will not extend coverage beyond a date it Woeded uld have otherwise terminated. Each premium payment will include any adjustments in past premiums, which are due to changes that have not yet been taken into account. If a premium adjustment involves a return of unearned premium, the refund will be limited to the prior 12 -month period. PREMIUM RATE SCHEDULE Monthly Group Life Rate Monthly AD &D Rate Monthly Dependent Life Rate $.xx per $1,000 of insurance .xx per $1,000 of insurance x.xx per Family Unit The above rates are guaranteed until May 1, 2002, unless an exception listed in the Premium Rate Change section applies. After that, any premium rate change will be as shown in the renewal letter. The Company will send the Group Policyholder a renewal letter prior to each Policy Anniversary. • GL1101 -6 99 FL 8 05/01/01