<SEC-DOCUMENT>0000950123-12-001922.txt : 20120828
<SEC-HEADER>0000950123-12-001922.hdr.sgml : 20120828

<ACCEPTANCE-DATETIME>20120131162658

<PRIVATE-TO-PUBLIC>

ACCESSION NUMBER:		0000950123-12-001922

CONFORMED SUBMISSION TYPE:	F-3

PUBLIC DOCUMENT COUNT:		17

FILED AS OF DATE:		20120131

DATE AS OF CHANGE:		20120719


FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			JOHN HANCOCK LIFE INSURANCE CO USA

		CENTRAL INDEX KEY:			0001073894

		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]

		IRS NUMBER:				010233346

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		F-3

		SEC ACT:		1933 Act

		SEC FILE NUMBER:	333-179261

		FILM NUMBER:		12559558



	BUSINESS ADDRESS:	

		STREET 1:		200 BLOOR STREET EAST

		CITY:			TORONTO

		STATE:			A6

		ZIP:			M4W1E5

		BUSINESS PHONE:		4169260100



	MAIL ADDRESS:	

		STREET 1:		200 BLOOR STREET EAST

		CITY:			TORONTO

		STATE:			A6

		ZIP:			M4W1E5



	FORMER COMPANY:	

		FORMER CONFORMED NAME:	MANUFACTURERS LIFE INSURANCE CO USA

		DATE OF NAME CHANGE:	19981117




FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			MANULIFE FINANCIAL CORP

		CENTRAL INDEX KEY:			0001086888

		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]

		IRS NUMBER:				000000000

		STATE OF INCORPORATION:			A6

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		F-3

		SEC ACT:		1933 Act

		SEC FILE NUMBER:	333-179261-01

		FILM NUMBER:		12559559



	BUSINESS ADDRESS:	

		STREET 1:		200 BLOOR ST EAST

		STREET 2:		NORTH TOWER 11

		CITY:			TORONTO ONTARIO CANA

		STATE:			A6

		ZIP:			00000

		BUSINESS PHONE:		4169263500



	MAIL ADDRESS:	

		STREET 1:		200 BLOOR ST EAST

		STREET 2:		NORTH TOWER 11

		CITY:			TORONTO ONTARIO CANA

		STATE:			A6

		ZIP:			00000



</SEC-HEADER>

<DOCUMENT>
<TYPE>F-3
<SEQUENCE>1
<FILENAME>b89822a1fv3.htm
<DESCRIPTION>JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) / MANULIFE FINANCIAL CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>fv3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">As filed with the Securities and Exchange Commission on January&nbsp;31, 2012<BR>
File Nos. 333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> and 333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>












<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM F-3</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT</B><BR>
<B><I>UNDER<BR>
THE SECURITIES ACT OF 1933</I></B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="font-size: 20pt"><B>Manulife Financial <BR>
Corporation</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Exact name of each Registrant as<BR>
specified in its charter)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size: 20pt"><B>John Hancock Life<BR>
Insurance<BR>
Company (U.S.A.)</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Canada</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(State or other jurisdiction of<BR>
incorporation or organization)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Michigan</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>98-0361647</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(I.R.S. Employer Identification No.)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>01-0233346</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>200 Bloor Street East <BR>
Toronto, Ontario, <BR>
Canada M4W 1E5<BR>
(416)&nbsp;926-3000</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top"><B>(Address and telephone number of<BR>
each Registrant&#146;s principal executive offices)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>601 Congress Street<BR>
Boston, Massachusetts 02210-2805<BR>
(617)&nbsp;663-3000</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Stephen P. Sigurdson, Esq. <BR>
Manulife Financial Corporation <BR>
200 Bloor Street East <BR>
Toronto, Ontario, <BR>
Canada M4W 1E5<BR>
(416)&nbsp;926-3000</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Name, address and telephone number of<BR>
agent for service)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Arnold R. Bergman, Esq.<BR>
Scott A. Lively, Esq.<BR>
John Hancock Life Insurance<BR>
Company (U.S.A.)<BR>
601 Congress Street<BR>
Boston, Massachusetts 02210-2805<BR>
(617)&nbsp;663-3000</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV><BR>
<B><I>Copies to:</I></B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Andrew J. Beck, Esq.<BR>
Torys LLP<BR>
1114 Avenue of the Americas<BR>
23</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>rd</B></SUP> <B>Floor<BR>
New York, New York 10036-7703<BR>
(212)&nbsp;880-6000</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Approximate date of commencement of proposed sale to the public: From time to time after the
effective date of this Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the only securities being registered on this Form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any of the securities being registered on this Form are to be offered on a delayed or continuous
basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, please check the following box. <FONT style="font-family: Wingdings">&#254;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If this Form is filed to register additional securities for an offering pursuant to Rule 462(b)
under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act,
please check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective
amendment thereto that shall become effective upon filing with the Commission pursuant to Rule
462(e) under the Securities Act, check the following box. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If this form is a post-effective amendment to a registration statement filed pursuant to General
Instruction I.C. filed to register additional securities or additional classes of securities
pursuant to Rule 413(b) under the Securities Act, check the following box. <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>







<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of each class of</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>securities to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per unit (2)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price (3)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>(1)</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Market Value
Adjustment
interests under
deferred annuity
contracts</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">2,400,000,000.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">1.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">1.00</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">0</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Subordinated
guarantee relating
to <BR>
Market Value
Adjustment

interests<BR>
 under
deferred annuity
contracts (4)</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000">None</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>

</DIV>


<DIV align="left">
<DIV style="font-size: 0pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>The filing is being made under the Securities Act of 1933 to register $2,400,000,000.00 of
market value adjustment interests under deferred annuity contracts of John Hancock Life
Insurance Company (U.S.A.). The interests being registered herein are carried over, as unsold
securities, from an existing F-3 registration statement of the same issuers (File Nos.
333-159101 and 333-159101-01) filed on May&nbsp;8, 2009. Because a filing fee of $133,920.00
previously was paid with respect to those unsold securities, there is no filing fee under this
registration statement. In accordance with Rule&nbsp;415(a)(6), the offering of securities on the
earlier registration statement will be deemed terminated as of the effective date of this
registration statement. Pursuant to Rule 457(n) under the Securities Act, no separate fee for
the subordinated guarantees is payable.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Interests in the market value adjustment account are sold on a dollar basis, not on the basis
of a price per share or unit.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>The maximum aggregate offering price is estimated solely for the purpose of determining the
amount of the registration fee.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>The subordinated guarantees issued by Manulife Financial Corporation being registered hereon
are being sold without separate consideration.</TD>
</TR>

</TABLE>







<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Registrants hereby amend this registration statement on such date or dates as may be necessary
to delay its effective date until the Registrants shall file a further amendment which specifically
states that this registration statement shall thereafter become effective in accordance with
Section&nbsp;8(a) of the Securities Act of 1933 or until the registration statement shall become
effective on such date as the Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B>
</DIV>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="padding: 5px; border: 3px double #000000; font-size: 11pt; color: #FF0000">The
information in this prospectus is not complete and may be changed. We may not sell these
securities until the registration statement filed with the Securities
and Exchange Commission is
effective. This prospectus is not an offer to sell these securities
and it is not soliciting an
offer to buy these securities in any state where the offer or sale is not permitted.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt; color: red"><B>Subject to Completion, Dated January&nbsp;31, 2012</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt; color:red">JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.)
</DIV>
<DIV align="center" style="font-size: 18pt; margin-top: 12pt">&#091;PRODUCT MARKETING NAME&#093;
</DIV>


<DIV align="Center" style="font-size: 12pt; margin-top: 6pt">SINGLE PAYMENT MODIFIED GUARANTEE DEFERRED ANNUITY<BR>
NON-PARTICIPATING
</DIV>

<DIV align="Center" style="font-size: 12pt; margin-top: 6pt">MARKET VALUE ADJUSTMENT INTERESTS<BR>
Guaranteed as described herein by<BR>
MANULIFE FINANCIAL CORPORATION
</DIV>
<DIV align="left" style="font-size: 9pt; margin-top: 6pt">This prospectus describes &#091;Product Name&#093; (&#147;<B>Product Name&#148;)</B>, a single payment modified guarantee
deferred annuity contract with market value adjustment interests (&#147;Contract&#148;). &#091;Product Name&#093; is
issued and offered by <B>John Hancock Life Insurance Company (U.S.A.) </B>(&#147;<B>John Hancock USA</B>&#148;) in all
jurisdictions except New York. Unless otherwise specified, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; or &#147;Company&#148; refers
to John Hancock USA. The prospectus also describes the subordinated guarantee by Manulife Financial
Corporation (&#147;MFC&#148;) of obligations of John Hancock USA under a Contract (the &#147;MFC Subordinated
Guarantee&#148;). MFC is our ultimate parent company. Our wholly-owned subsidiary, John Hancock
Distributors, LLC (&#147;JH Distributors&#148;), acts as principal underwriter of the Contracts.
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt">The prospectus describes both an individual deferred annuity contract and certificates issued under
a group deferred annuity contract. We use the term &#147;Contract&#148; to describe both an individual
contract and a certificate under a group contract that evidences a participating interest in the
group contract.
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt">The Contract is designed to provide retirement income pursuant to either nonqualified retirement
plans or plans qualifying for special income tax treatment under the Internal Revenue Code of 1986,
as amended (the &#147;Code&#148;). As used herein, &#147;you&#148; refers to the Owner of a Contract.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 9pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You make a single Purchase Payment for the Contract.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The minimum Purchase Payment is &#091;Product A: $10,000; Product B: $25,000&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">o</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The maximum Purchase Payment (without our prior approval) is $1,000,000.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You may not make additional Purchase Payments for a Contract but may purchase
additional Contracts at the then prevailing rates and terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You designate the Guarantee Period to which we allocate your Purchase Payment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You select an Annuity Option available under your Contract or an alternate form of
settlement acceptable to us.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>Please read this prospectus carefully and keep it for future reference. This prospectus contains
information about the Contract and the MFC Subordinated Guarantee that a prospective purchaser
should know before investing.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>Because of the Market Value Adjustment provision of the Contract, the Contract Owner bears the
investment risk that the guaranteed interest rates offered by us at the time of withdrawal or the
start of Annuity Payments may be higher than the guaranteed interest rate applied to the Contract
with the result that the amount you receive upon withdrawal or annuitization may be reduced by the
Market Value Adjustment and may be less than your original investment in the Contract. See &#147;II.
Overview &#151; Are there any risks in purchasing this Contract?&#148; and &#147;IV. Charges, Deductions and
Adjustments &#151; Adjustments And Charges Upon Withdrawals.&#148;</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus is truthful or complete. Any
representation to the contrary is a criminal offense.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>These securities are not deposits with, or obligations of, or guaranteed or endorsed by, any bank
or any affiliate thereof, and are not insured by the Federal Deposit Insurance Corporation, the
Federal Reserve Board or any other government agency.</B>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>The MFC Subordinated Guarantee does not relieve the Company of any obligations under its Contracts.
Therefore, the MFC Subordinated Guarantee is in addition to all of the rights and benefits that the
Contracts otherwise provide.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>You should be aware that owning these securities may have tax consequences both in the United
States and Canada. You should read the tax discussion contained in this prospectus and in any
applicable prospectus supplement. However, this prospectus and any applicable prospectus supplement
may not describe these tax consequences fully.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>Your ability to enforce civil liabilities related to the MFC Subordinated Guarantee under U.S.
securities laws may be affected adversely by the fact that MFC is organized under the laws of
Canada, most of its officers and directors and some of the experts named in this prospectus are
residents of Canada, and a substantial portion of their assets are located outside the United
States.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>You should rely on the information contained in or incorporated by reference in this prospectus or
any applicable prospectus supplement and on the other information included in the registration
statement of which this prospectus forms a part. We have not authorized anyone to provide you with
different or additional information. We are not making an offer of the securities covered by this
prospectus in any jurisdiction where the offer is not permitted by law. You should not assume that
the information contained in or incorporated by reference in this prospectus or any applicable
prospectus supplement is accurate as of any date other than the date on the front of this
prospectus or any applicable prospectus supplement, as the case may be.</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><B>There is no market through which these securities may be sold and purchasers may not be able to
resell securities purchased under this prospectus.</B>
</DIV>


<DIV align="center" style="font-size: 9pt; margin-top: 18pt"><B>JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR style="font-size: 9pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Annuities Service Center</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Mailing Address</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">164 Corporate Drive
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Post Office Box 9505</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Portsmouth, NH 03801-6815
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Portsmouth, NH 03802-9505</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(617) 663-3000 or
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><u>www.jhannuities.com</u></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">(800) 344-1029</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(The information contained in, or accessible through, John Hancock USA&#146;s website<BR>
is not incorporated by reference into this prospectus.)
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->ii<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Table of Contents
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#101"><B>ABOUT THIS PROSPECTUS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#102"><B>I. GLOSSARY</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#103"><B>II. OVERVIEW</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#104"><B>III. DESCRIPTION OF THE CONTRACT</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#105"><B>ELIGIBLE PLANS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#106"><B>ACCUMULATION PROVISIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>9</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#107">Purchase Payment</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#108">Guarantee Periods and Rates</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#109">Subsequent Guarantee Periods</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#110">Withdrawals</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#111">Signature Guarantee Requirements for Surrenders and Withdrawals</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#112">Special Withdrawal Services &#151; The Systematic Withdrawal Program</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#113">Telephone and Electronic Transactions</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#114">Death Benefit Before Maturity Date</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#115"><B>ANNUITY PROVISIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#116">General</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#117">Annuity Options</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#118">Death Benefit on or After Maturity Date</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#119"><B>OTHER CONTRACT PROVISIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>14</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#120">Fifteen Day Right to Review</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#121">Ownership</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#122">Beneficiary</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#123">Annuitant</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#124">Spouse</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#125">Modification</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#126">Code Section&nbsp;72(s)</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#127">Our Approval</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#128">Discontinuance of New Owners</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#129">Misstatement and Proof of Age, Sex or Survival</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#130">Non-participating</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#131"><B>IV. CHARGES, DEDUCTIONS AND ADJUSTMENTS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#132"><B>ADJUSTMENTS AND CHARGES UPON WITHDRAWALS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>17</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#133">Free Withdrawal Amount</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#134">Market Value Adjustment Factor</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#135">Withdrawal Charge</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#136">Waiver of Applicable Withdrawal Charge and MVA &#151; Confinement to Nursing Home</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#137">Impact of Market Value Adjustment and
Withdrawal Charge</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#138"><B>OTHER CHARGES AND DEDUCTIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>22</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#139">Taxes</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#140">Administration Fee</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#141"><B>V. GENERAL INFORMATION ABOUT US</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#142"><B>THE COMPANY</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#143"><B>MVA SEPARATE ACCOUNT</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#144"><B>DISTRIBUTION OF THE CONTRACT</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>24</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#145"><B>VI. THE MFC SUBORDINATED GUARANTEE</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>25</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#146"><B>DESCRIPTION OF MANULIFE FINANCIAL CORPORATION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>25</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#147"><B>DESCRIPTION OF THE MFC SUBORDINATED GUARANTEE</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>25</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#148"><B>WHERE YOU CAN FIND MORE INFORMATION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>26</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#149"><B>ENFORCEMENT OF JUDGMENTS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>27</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#150"><B>VII. FEDERAL TAX MATTERS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#151"><B>INTRODUCTION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>29</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#152">Our Tax Status</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#153">Nonqualified Contracts</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#154">Puerto Rico Nonqualified Contracts</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#155"><B>QUALIFIED RETIREMENT PLANS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>32</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#156">In General</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#157">Required Minimum Distributions</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#158"><B>QUALIFIED PLAN TYPES</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>33</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#159">Federal Income Tax Withholding</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><A href="#160">Puerto Rico Contracts Issued to Fund Retirement Plans</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#161"><B>VIII. GENERAL MATTERS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#162"><B>CONFIRMATION STATEMENTS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#163"><B>LEGAL PROCEEDINGS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#164"><B>LEGAL OPINIONS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#165"><B>EXPERTS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#166"><B>NOTICES AND REPORTS TO CONTRACT OWNERS</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><A href="#167"><B>CONTRACT OWNER INQUIRIES</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>37</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#168"><B>APPENDIX A: EXAMPLE OF MARKET VALUE ADJUSTMENT CALCULATION</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><B>A-1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#169"><B>APPENDIX B: WITHDRAWAL CHARGE SCHEDULE</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><B>B-1</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#170"><B>APPENDIX C: STATE PREMIUM TAXES</B></A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right"><B>C-1</B></TD>
    <TD>&nbsp;</TD>
</TR>
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<DIV align="left">
<A name="101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">About This Prospectus
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this prospectus, unless otherwise specified or the context otherwise requires, references
to &#147;MFC&#148; refer to Manulife Financial Corporation. Unless otherwise specified, all dollar amounts
contained in this prospectus are expressed in U.S. dollars, references to &#147;dollars&#148; or &#147;$&#148; are to
U.S. dollars and all references to &#147;Cdn$&#148; are to Canadian dollars. Unless otherwise specified, MFC
financial information included and incorporated by reference in this prospectus is prepared using
generally accepted accounting principles in Canada, which we refer to as &#147;Canadian GAAP.&#148; MFC
adopted International Financial Reporting Standards, which we refer to as IFRS, effective for
interim and annual periods commencing January&nbsp;1, 2011. Prior to the adoption of IFRS, MFC prepared
its consolidated financial statements in accordance with Canadian generally accepted accounting
principles as in effect prior to January&nbsp;1, 2011. Accordingly,
Canadian GAAP refers to prior Canadian generally accepted accounting
principles for 2010 and earlier and IFRS for 2011 and beyond.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock USA filed this prospectus as part of a joint registration statement with MFC relating
to the Contracts that it issues and a subordinated guarantee that MFC issues. This prospectus,
together with the documents incorporated by reference herein, describes information about both the
Contracts and the subordinated guarantee. Under the registration statement filed with the U.S.
Securities and Exchange Commission (the &#147;SEC&#148;), John Hancock USA may, from time to time, sell the
Contracts described in this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Before you invest, you should read this prospectus together with the additional information
described under the heading &#147;VI. The MFC Subordinated Guarantee &#151; Where You Can Find More
Information.&#148; This prospectus does not contain all of the information contained in the registration
statement, certain parts of which are omitted in accordance with the rules and regulations of the
SEC. You should refer to the registration statement and the exhibits to the registration statement
for further information with respect to  us, the Contracts and the MFC Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC
prepares its consolidated financial statements in accordance with
Canadian GAAP, which, subsequent to January 1, 2011, is IFRS. Canadian
GAAP differs from generally accepted accounting
principles in the United States, which we refer to as &#147;U.S. GAAP.&#148; MFC&#146;s consolidated financial
statements incorporated by reference in this prospectus and in the documents incorporated by
reference in this prospectus may not be comparable to financial statements prepared in accordance
with U.S. GAAP. You should refer to note 22 to MFC&#146;s annual audited consolidated financial
statements as at and for the year ended December&nbsp;31, 2010 on Form 40-F filed on March&nbsp;18, 2011, and
to note 21 to MFC&#146;s annual audited consolidated financial statements as at and for the year ended
December&nbsp;31, 2009 on Form 40-F filed on March&nbsp;19, 2010, for a discussion of the principal
differences between MFC&#146;s financial results calculated under Canadian GAAP and under U.S. GAAP.
MFC&#146;s financial statements include a footnote containing condensed consolidating financial
information with separate columns for MFC, John Hancock USA and other subsidiaries of MFC, together
with consolidating adjustments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock USA has been a subsidiary of MFC for financial reporting purposes since September,
1999 and, as a consequence, John Hancock USA has been, and will continue to be, included in the
consolidated financial statements of MFC in reports filed by MFC with the SEC since that date.
</DIV>







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<DIV align="left">
<A name="102"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">I. Glossary
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Account Value: </B>The amount we hold under the Contract for you at any given time. On the
Contract Date, the Account Value is equal to the Net Purchase Payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuitant: </B>Any individual person or persons whose life is used to determine the duration of
Annuity Payments involving life contingencies. The Annuitant is as designated on the specifications
page of the Contract, unless changed prior to the Maturity Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity Option: </B>The method selected by you from the available options for Annuity Payments made by
us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity Payment(s): </B>Periodic payment(s) by us to you or your Payee, which generally commence on or
after the Maturity Date and are in accordance with the Annuity Option elected under the terms of
the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuities Service Center: </B>The mailing address of our service office is listed on page ii of this
prospectus. You can send overnight mail to us at the street address of the service office, 164
Corporate Drive, Portsmouth, New Hampshire 03801-6815.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Beneficiary: </B>The person, persons or entity to whom certain benefits are payable following the
death of an Owner, or if the Owner is a non-natural person, following the death of an Annuitant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Certificate: </B>For a group contract, the documents we issued to each Owner which summarize the
Owner&#146;s rights and benefits under the contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contingent Beneficiary: </B>The person, persons or entity who becomes the Beneficiary if the
Beneficiary is not alive when a benefit is due and payable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract: </B>For an individual contract, the individual annuity Contract. For a group contract, the
Certificate evidencing a participating interest in the group annuity contract. Any reference in
this prospectus to &#147;Contract&#148; shall, in the case of a group contract, refer to the Certificates
unless the context otherwise requires the underlying group annuity contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Anniversary: </B>For an individual Contract, the anniversary of the Contract beginning twelve
consecutive months from the Contract Date and each year thereafter. For a Contract issued under a
group contract in the form of a Certificate, the anniversary of the date we issued the Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Date: </B>In the case of an individual Contract, the date we issue the Contract as designated
on the Contract specifications page. In the case of a Contract issued under a group contract in the
form of a Certificate, the effective date of participation under the group contract as designated
in the Certificate specifications page.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contract Year: </B>The period of time measured twelve consecutive months from the Contract Date or any
Contract Anniversary thereafter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Code: </B>The Internal Revenue Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Due Proof of Death: </B>We require Due Proof of Death upon the death of the Owner or Annuitant, as
applicable. We must receive one of the following at our Annuities Service Center:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of a death certificate;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a certified copy of a decree of a court of competent jurisdiction as to the
finding of death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other proof satisfactory to us.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Fixed Annuity: </B>An Annuity Option with payments which are predetermined and guaranteed as to dollar
amount.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Good Order: </B>The standard that we apply when we determine whether an instruction is satisfactory.
An instruction will be considered in Good Order if it is received at our Annuities Service Center:
(a)&nbsp;in a manner that is satisfactory to us such that it is sufficiently complete and clear that we
do not need to exercise any discretion to follow such instruction and it complies with all relevant
laws and
regulations and Company requirements; (b)&nbsp;on specific forms, or by other means we then permit (such
as via telephone or electronic submission); and/or (c)&nbsp;with any signatures and dates we may
require. We will notify you if an instruction is not in Good Order.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>General Account: </B>All of the Company&#146;s assets other than the assets in segregated asset accounts
which are maintained as &#147;insulated&#148; separate accounts under applicable law.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Gross Withdrawal Amount: </B>The amount deducted from the Account Value for a full or partial
withdrawal. For a full withdrawal, such amount is the Account Value. For a partial withdrawal, it
is the amount you request plus any applicable withdrawal charge, adjusted by any applicable Market
Value Adjustment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Group Holder: </B>In the case of a group annuity contract, the person, persons or entity to whom we
issue the group contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Guarantee Period: </B>Under the Contract, you make a Purchase Payment to us, and we credit interest for
a period of time known as the Guarantee Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>In Writing: </B>Unless otherwise stated, means a notice provided in a format acceptable to us based on
the type of request, which is received at our Annuity Service Center.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Initial Guarantee Period: </B>The period of time beginning on the Contract Date that the Initial
Guaranteed Interest Rate is in effect. The Initial Guarantee Period continues for the period shown
on the specifications page of the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Initial Guaranteed Interest Rate: </B>The compound annual rate, shown on the specifications page of
the Contract, credited to the Account Value during the Initial Guarantee Period under the terms of
the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Market Value Adjustment: </B>An adjustment we make to amounts that are withdrawn or annuitized on any
date other than during the period 30&nbsp;days after the expiration of the Guarantee Period. The Market
Value Adjustment may increase or decrease the amount available for withdrawal or annuitization.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Maturity Date: </B>The date on which annuity benefits are scheduled to commence. It is the date
specified on the Contract specifications page, unless changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>MVA Separate Account: </B>A non-registered separate account that we established within the General
Account and in which we hold reserves for our guarantees under the Contract. Our other General
Account assets are also available to meet the guarantees under the Contract and our other
general obligations. The assets of the MVA Separate Account are subject to the liabilities
that arise out of the other business that we conduct.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Net Purchase Payment: </B>The Purchase Payment less the amount of premium tax, if any, deducted from
the Payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Nonqualified Contracts: </B>Contracts which are not issued under Qualified Plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Owner or Contract Owner: </B>In the case of an individual Contract, the person, persons or entity
entitled to the ownership rights under the Contract. In the case of a Contract issued under a group
contract in the form of a Certificate, the person, persons or entity named in the Certificate who
is entitled to all of the ownership rights under the group contract not expressly reserved to the
group contract holder. The Owner is as designated on the Contract, unless changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Payee: </B>Any of the person(s) or entity to whom Annuity Payments are to be made.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Payment or Purchase Payment: </B>An amount paid by a Contract Owner to us as consideration for the
benefits provided by the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Qualified Contracts: </B>Contracts issued under Qualified Plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Qualified Plans: </B>Retirement plans which receive favorable tax treatment under sections 401, 408,
408A or 457 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Subsequent Guarantee Period: </B>A period of time beginning on the day following expiry of the
immediately preceding Guarantee Period.
</DIV>






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<DIV align="left">
<A name="103"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">II. Overview
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This overview tells you some key points you should know about the Contract. Because this is an
overview, it does not contain all the information that may be important to you. You should read
carefully this entire prospectus, including its Appendices, for more detailed information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We disclose all material features and benefits of the Contract in this prospectus. Insurance laws
and regulations apply to us in every state in which our contracts are sold. As a result, a Contract
purchased in one state may have terms and conditions that vary from the terms and conditions of a
Contract purchased in a different jurisdiction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What kind of Contract is described in this prospectus?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract is a single payment modified guarantee deferred annuity contract with market value
adjustment interests. It provides for the accumulation of the Account Value and the payment of
annuity benefits on a fixed basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the Contract, you make a Purchase Payment to us, and we credit interest for a period of time
known as the Guarantee Period. At the end of each Guarantee Period, you can choose:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to start a subsequent Guarantee Period (up to a maximum Maturity Date),</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to start annuity benefit payments, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to receive your Account Value.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(We may assess a withdrawal charge and make a Market Value Adjustment to your Account Value if you
make any of these elections outside of a 30-day period at the end of a Guarantee Period.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">EXAMPLE:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following example illustrates how a Contract can work. It assumes that you are 55 when you
purchase the Contract, you do not take withdrawals, and we make certain Guarantee Periods available
until you are 70:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="b89822a1b8982201.gif" alt="(LOGO)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Retirement Plans. </B>We may issue the Contract pursuant to either nonqualified retirement plans or
plans qualifying for special income tax treatment under the Code. Qualified Plans include
individual retirement accounts and annuities (&#147;IRAs&#148;) (including Roth IRAs), pension and
profit-sharing plans for corporations and for sole proprietorships/partnerships (&#147;H.R. 10&#148; and
&#147;Keogh&#148; plans) and state and local government deferred compensation plans (see &#147;VII. Federal Tax
Matters &#151; Qualified Retirement Plans&#148;). If you are considering purchasing a Contract for use in
connection with a Qualified Plan, you should consider, in evaluating the suitability of the
Contract, that it allows only a single Purchase Payment in a minimum amount stated on the cover
page of this prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>How can I invest money in the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We use the term Purchase Payment to refer to the investment you make or made in the Contract. You
make your Purchase Payment to us at our Annuities Service Center. The minimum and maximum Purchase
Payments are stated on the cover page of this prospectus. We allocate your Purchase Payment to the
Guarantee Period which you designate.
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While we will not accept additional Purchase Payments for a Contract, you may purchase additional
Contracts at the then prevailing rates and terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the Maturity Date and at our option, we may cancel a Contract if the Account Value is less
than $5,000. This cancellation privilege may vary in certain states to comply with the requirements
of their insurance laws and regulations (see &#147;III. Description of the Contract &#151; Purchase
Payment&#148;). If we cancel your Contract, we will not apply a Market Value Adjustment factor or
withdrawal charges (see &#147;IV. Charges, Deductions and Adjustments&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>How does my Account Value grow?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Guarantee Periods. </B>When you purchase a Contract, you must elect one, and only one, Initial
Guarantee Period. We may offer up to ten different Guarantee Periods under the Contract: one year
through ten years, for you to choose, but we do not make all of these Guarantee Periods available
at all times or through all authorized distributors of the Contracts. Similarly, at the end of a
Guarantee Period, you may elect a Subsequent Guarantee Period from among those we make available at
the time. We may offer additional Guarantee Periods for any yearly period from one to 20&nbsp;years (see
&#147;III. Description of the Contract &#151; Guarantee Periods and Rates&#148;), but provide no assurance that
we will continue to offer a Guarantee Period within this range. We do not expect to offer Guarantee
Periods of over ten years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Guarantee Rates. </B>We determine periodically the interest rates that we will guarantee for Initial
and Subsequent Guarantee Periods. The guaranteed interest rate will in no event be less than the
minimum rate required by applicable law. <B>We, in our sole discretion, determine the guaranteed
interest rates, which will never be less than 1% or, if greater, the non-forfeiture interest rate
required in the state we issue your Contract. </B>We guarantee the interest rate for the duration of
the Guarantee Period and may not change it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Subsequent Guarantee Periods. </B>At the end of a Guarantee Period, you may choose a new Guarantee
Period from any of the then existing Guarantee Period options, at the then current interest rates
(see &#147;III. Description of the Contract &#151; Subsequent Guarantee Periods&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>May I make withdrawals under the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Withdrawals. </B>Before the earlier of the Maturity Date or the death of a Contract Owner, you may
withdraw all or a portion of your Account Value.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You must withdraw an amount at least equal to $1,000, the minimum specified in the
Contract.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If a partial withdrawal (plus any applicable withdrawal charge and after giving
effect to any Market Value Adjustment) reduces the Account Value to less than $5,000,
the minimum specified in the Contract, we may treat the partial withdrawal as a total
withdrawal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A withdrawal may also be subject to income tax and a 10% penalty tax (see &#147;VII.
Federal Tax Matters&#148; for a more detailed discussion).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What fees and charges do I pay under the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Fees. </B><I>Withdrawal Charges. </I>If you make a withdrawal from the Contract before the Maturity Date, we
may assess a withdrawal charge (contingent deferred sales charge) against amounts withdrawn (which
will never be more than 7% of your Account Value) and Market Value Adjustment. There is never a
withdrawal charge with respect to certain free withdrawal amounts. The amount of the withdrawal charge and
when it is assessed are discussed under &#147;IV. Charges, Deductions and Adjustments &#151; Adjustments and
Charges Upon Withdrawals&#148; and Appendix&nbsp;B: &#147;Withdrawal Charge Schedule.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Market Value Adjustment. </I>We will adjust any amount withdrawn or annuitized prior to the end of
either the Initial Guarantee Period or a Subsequent Guarantee Period by the Market Value Adjustment
factor described under &#147;IV. Charges, Deductions and Adjustments &#151; Adjustments and Charges Upon
Withdrawals&#148; and Appendix&nbsp;A: &#147;Example Of Market Value Adjustment Calculation.&#148; (Please see &#147;IV.
Charges, Deductions and Adjustments&#148; for certain exceptions when we will not apply a Market Value
Adjustment.)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Administration Fee. </I>To compensate us for assuming certain administrative expenses, we reserve the
right to charge an annual administration fee, which will never exceed $50.00. If imposed, the fee
will be detailed on your Contract&#146;s specifications page.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>State Premium Taxes. </B>State premium taxes may also apply to your Contract, which currently range
from 0.50% to 3.50% of each Purchase Payment (see Appendix&nbsp;C: &#147;State Premium Taxes&#148;).
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>What are some benefits of the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Death Benefits. </B>We will pay the death benefit to the &#147;Beneficiary&#148; if any Contract Owner dies
before the Maturity Date. The death
benefit equals the Account Value. If there is a surviving Contract Owner, that Contract Owner will
be deemed to be the Beneficiary. No death benefit is payable on the death of any individual or
persons whose life is used to determine the duration of Annuity Payments, the &#147;Annuitant,&#148; except
that if any Contract Owner is not a natural person, we will treat the death of any Annuitant as the
death of an Owner. We will determine the death benefit as of the date we receive written notice and
proof of death (&#147;Due Proof of Death&#148;) and all required claim forms at our Annuities Service Center.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Annuity Payments. </B>We offer a variety of Fixed Annuities. Periodic Annuity Payments will commence as
of the Maturity Date. You select the Maturity Date, frequency of payment and Annuity Option (see
&#147;III. Description of the Contract &#151; Annuity Provisions&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Telephone and Electronic Transactions. </B>You may request withdrawals by telephone. We may also permit
you to access information and perform some electronic transactions through our website (see &#147;III.
Description of the Contract &#151; Telephone and Electronic Transactions&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Can I return my Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Right to Review. </B>You may cancel the Contract by returning it to our Annuities Service Center or to
your financial advisor within a specified number of days after receipt of the Contract (see &#147;III.
Description of the Contract &#151; Right To Review&#148;). The right to review period may vary in certain
states in order to comply with the requirements of insurance laws and regulations in such states.
The right to review period applicable to you, usually between 15 and 30&nbsp;days, will appear on the
cover page of the Contract delivered to you. Within seven days after we receive the returned
Contract, we will pay you an amount equal to either the current Account Value or your full Purchase
Payment, as required by state insurance laws and regulations. Payment of the Account Value will be
adjusted by any Market Value Adjustment, if applicable, and computed on the date your Contract is
received by us. The Market Value Adjustment will only be applied where the change, up or down, in
the guaranteed interest rate in effect when you purchase your Contract and the rate in effect on
the date of cancellation is greater than 0.25%. If the purchase of this Contract involves the
replacement of any existing life insurance or annuity, then the right to review is in most cases
extended to 30&nbsp;days. If the Contract is issued as an IRA under section 408 or section 408A of the
Code, and you cancel during the first seven days of this right to review period, then we will
return an amount equal to the Payment made for the Contract (without the deduction of the Market
Value Adjustment), if greater than the Account Value adjusted as described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Will I receive a transaction confirmation?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Confirmation Statements</B><I>. </I>We will send you confirmation statements for certain transactions in your
account. You should carefully review these statements to verify their accuracy and should report
any mistake immediately to our Annuities Service Center. If you fail to report any mistake to the
Annuities Service Center within 60&nbsp;days of the mailing of the confirmation statement, you will be
deemed to have ratified the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>What are the tax consequences of purchasing the Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax Deferral. </B>The status of the Contract as an annuity generally allows all earnings under the
Contract to be tax-deferred until withdrawn or until Annuity Payments begin (see &#147;VII. Federal Tax
Matters&#148; for a more detailed discussion). In most cases, no income tax will have to be paid on your
earnings under the Contract until these earnings are paid out. This tax-deferred treatment may be
beneficial to you in building savings in a long-term investment program. <B>When you purchase a
Contract for any tax-qualified retirement plan, including an IRA, the Contract does not provide any
additional tax deferred treatment of earnings beyond the treatment provided by the plan.
Consequently, you should purchase a Contract for an IRA only on the basis of other benefits offered
by the Contract. These benefits may include lifetime income payments and guaranteed fees.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Are there any risks in purchasing this Contract?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are various risks associated with an investment in the Contract that we summarize below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Issuer/Guarantor Risk. </B>Your Contract is issued by John Hancock USA and thus is backed by the
Company&#146;s financial strength. If the Company were to experience significant financial adversity, it
is possible that the Company&#146;s ability to pay interest and principal under the Contract could be
impaired. The Guarantee Periods are subject to a subordinated guarantee by MFC. If MFC were to
experience significant financial adversity, it is possible that MFC&#146;s ability to carry out its
obligations under the guarantee could be impaired.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Market Value Adjustment Risk. </B>If you choose to withdraw your money or annuitize on any date other
than the period 30&nbsp;days after the expiration of the Guarantee Period, you will experience a Market
Value Adjustment. You do not participate directly in the investment experience of the assets that
the Company holds to support the Contract. Nonetheless, the Market Value Adjustment
formula (which is discussed in Appendix&nbsp;A: &#147;Market Value Adjustment&#148;) reflects the effect that
prevailing interest rates have on those assets. If you need to withdraw your money during a period
in which prevailing interest rates have risen above their level when you made your purchase, you
will experience a &#147;negative&#148; Market Value Adjustment. When we impose this Market Value Adjustment,
it could result in the loss of both the interest you have earned and a portion of your Purchase
Payment. <B>The Market Value Adjustment, alone or in combination with the applicable withdrawal
charges, could result in your total withdrawal proceeds being less than your Purchase Payment.</B>
Thus, before you commit to a particular Guarantee Period, you should consider carefully whether you
have the ability to remain invested throughout the Guarantee Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, we cannot, of course, assure you that the Contract will perform better than another
investment that you might have made.
</DIV>

<DIV STYLE="BORDER: 1PX SOLID BLACK; PADDING: 2PX; MARGIN-TOP: 6PT">
<DIV align="left" style="font-size: 10pt; margin-top: 0pt"><B>Risks Related to the Withdrawal Charge. </B>We may impose withdrawal charges that
range as high as 7%. If you anticipate needing to withdraw your money prior to
the end of a Guarantee Period you should be prepared to pay the withdrawal
charge that we will impose.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Because we assess a withdrawal charge if you take a withdrawal from the
Contract before the end of your Guarantee Period, and because you may elect a
Subsequent Guarantee Period upon the expiration of any Guarantee Period,
withdrawal charges will apply, according to the schedules that appear in &#147;IV.
Charges, Deductions and Adjustments &#151; Fee Tables&#148; and in Appendix&nbsp;C: &#147;State
Premium Taxes,&#148; for as long as you own your Contract.
</DIV>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Risks Related to the MFC Subordinated Guarantee. </B>Your ability to enforce civil liabilities related
to the MFC Subordinated Guarantee under U.S. securities laws may be affected adversely by the fact
that MFC is organized under the laws of Canada, most of its officers and directors and some of the
experts named in this prospectus are residents of Canada, and a substantial portion of their assets
are located outside the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>How, in general, does the Small Business Jobs Act of 2010 (the &#147;Act&#148;) affect annuity contracts?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>The following discussion of the Act is not exhaustive, does not purport to cover all situations
that might affect your Contract, and is not intended as tax advice. You should seek independent tax
advice for information on whether the Act applies to your circumstances.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Partial Annuitizations:</B></U> Effective January&nbsp;1, 2011, the Act amended section 72(a)(2) of the
Code to permit the tax cost basis, or &#147;investment in the contract,&#148; to be allocated pro rata in a
deferred annuity contract between (a)&nbsp;the amount of account value apportioned to an annuity payment
option, <I>where permitted under the contract</I>, and (b)&nbsp;the amount of account value that continues to
accumulate in the contract. This type of a transaction is referred to as a &#147;partial annuitization&#148;
and could result in the recognition of a lower amount of taxable earnings in amounts received under
an annuity contract immediately following the partial annuitization than would be the case for
partial withdrawals of an annuity contract&#146;s cash value. Different rules apply if the contract is
issued to, or in connection with, a tax-qualified retirement plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Contracts described in this prospectus </B><B><I>do not </I></B><B>permit you to make a partial annuitization
directly in the manner contemplated in the Act. </B>Accordingly, we will deny any request to apply any
amount less than your entire Account Value to an Annuity Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you take a partial withdrawal of Account Value and use the withdrawn amount to purchase an
immediate annuity contract, or if you make a partial exchange under section 1035 of the Code
directly into an immediate annuity contract, the withdrawal or exchange will be subject to
withdrawal charges and Market Value Adjustment. A withdrawal may also be subject to income tax,
withholding requirements and a 10% penalty tax. For additional information, please see &#147;VII.
Federal Tax Matters &#151; Qualified Retirement Plans.&#148; <B>You should seek independent tax advice if you
intend to purchase another annuity to provide annuity payments.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Designated Roth Accounts:</B></U> Effective September&nbsp;27, 2010, the Act authorizes participants in
plans intended to qualify under Code section 401(k) (&#147;401(k) Plans&#148;) or section 403(b) (&#147;403(b)
Plans&#148;) to roll over qualified distributions into a designated Roth account within the plan, <I>if
allowed by that plan</I>. The rollover will be taxable as income. If an amount was rolled over in
2010, it is eligible for a special rule whereby 50% of the income is reportable on a participant&#146;s
2011 tax return and 50% on his or her 2012 tax return.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective for taxable years beginning after December&nbsp;31, 2010, the Act also permits plans intended
to qualify under section 457(b) of the Code (&#147;457 Plans&#148;) to establish Roth accounts and authorizes
participants to contribute deferred amounts to designated Roth
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">accounts within their 457 Plan. The
Act further authorizes participants in 457 Plans to roll over qualified distributions into a
designated Roth account within the plan, <I>if allowed by that plan</I>. The rollover will be taxable as
income and does not qualify for the special rule allowing participants to report 50% of the income
in a 2011 tax return and 50% on the 2012 tax return.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract described in this prospectus was not designed to hold both Roth and non-Roth accounts.
We do not separately account for any Account Value in a single Contract that is split between Roth
and non-Roth accounts, <I>even if the applicable 401(k) Plan or 457 Plan allows you to designate Roth
and non-Roth accounts in your plan. </I>If your plan allows it, and you split your Account Value into
Roth and non-Roth accounts, you or your plan administrator (in the case of 401(k) Plans) will be
responsible for accounting for your Account Value for tax purposes: calculating withholding, income
tax reporting, and verifying required minimum distributions (&#147;RMD&#148;). We are not responsible for
the calculations of any service provider that you may use to split Account Value between Roth and
non-Roth accounts.
</DIV>





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<DIV align="left">
<A name="104"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">III. Description of the Contract</DIV>

<DIV align="left">
<A name="105"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Eligible Plans</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may issue the group deferred annuity contract to fund plans qualifying for special income tax
treatment under the Code. Qualified Plans include individual retirement accounts and annuities
(&#147;IRAs&#148;), pension and profit-sharing plans for corporations and sole proprietorships/partnerships
(&#147;H.R. 10&#148; and &#147;Keogh&#148; plans) and state and local government deferred compensation plans. If you
are considering purchasing a Contract under a group contract for use in connection with a Qualified
Plan, you should consider, in evaluating the suitability of the Contract, that it allows for only a
single Purchase Payment in an amount of at least the amount stated on the cover page of this
prospectus (see &#147;Qualified Retirement Plans&#148;). The group deferred annuity contract is also designed
for use with nonqualified retirement plans and such other groups (trusteed or non-trusteed) as may
be eligible under applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An eligible member of a group to which a Contract has been issued may become an Owner under the
Contract by submitting a completed application, if required by us, and a minimum Purchase Payment.
We will issue a Certificate summarizing the rights and benefits of the Owner under the Contract to
an applicant acceptable to us. We reserve the right to decline to issue a Certificate to any person
in our sole discretion, which we will exercise in a non-discriminatory manner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All rights and privileges under the Contract may be exercised by each Owner as to such Owner&#146;s
interest unless expressly reserved to the Group Holder. However, provisions of any plan in
connection with which we issue the Contract may restrict an Owner&#146;s ability to exercise such rights
and privileges.
</DIV>

<DIV align="left">
<A name="106"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Accumulation Provisions</B>
</DIV>

<DIV align="left">
<A name="107"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Purchase Payment</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You make your Purchase Payment to us at our Annuities Service Center. The minimum Purchase Payment
for a Contract is stated on the cover page of this prospectus. The maximum Purchase Payment which
you may make without our prior approval is also stated on the cover page of this prospectus. We
allocate the entire Purchase Payment to the Guarantee Period which you select. We will not accept
additional Purchase Payments for a Contract. You may, however, purchase additional Contracts at the
then prevailing rates and terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If your purchase is part of a tax-free exchange pursuant to section 1035 of the Code (see &#147;VII.
Federal Tax Matters &#151; Exchanges of Annuity Contracts&#148; for a more detailed discussion) or a
trustee-to-trustee transfer of Qualified Plan funds, the Purchase Payment may consist of multiple
components that we might receive on different dates. If this occurs, your Guarantee Period shall
commence on the date the first Purchase Payment component is received, and any subsequent component
received within 60&nbsp;days of your application shall be applied to the same Guarantee Period as the
first component and interest shall accrue as of the date of receipt of each component. In the event
a subsequent Purchase Payment component is not received by us within 60&nbsp;days of the date of your
application, we will seek your instructions to either return the subsequent Purchase Payment
component to you or the source from which we received it, or, if the subsequent Purchase Payment
component is at least the amount stated on the cover page of this prospectus, to establish a
separate additional Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the Maturity Date, we may, at our option, cancel a Contract if the Account Value is less
than $5,000. If we cancel the Contract, we will pay the amount that would be paid as a result of a
total withdrawal, and we will not apply a Market Value Adjustment or assess withdrawal charges.
This cancellation privilege may vary in certain states in order to comply with the requirements of
insurance laws and regulations in such states. The amount paid, if it is returned to you, may be
subject to income tax and to a 10% penalty tax. (See &#147;VII. Federal Tax Matters&#148; for a more detailed
discussion.)
</DIV>

<DIV align="left">
<A name="108"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Guarantee Periods and Rates</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract provides for the accumulation of interest on the Purchase Payment at a guaranteed
annual rate for the duration of the Initial Guarantee Period. We may offer as many as ten Guarantee
Periods, ranging from one year through ten years, in connection with the Contracts, but we may
limit the number of Guarantee Periods we make available at any time or through any authorized
distributor of the Contracts. We may offer additional Guarantee Periods from time to time for
additional durations of up to 20&nbsp;years. Any additional Guarantee Periods may not be available
through all authorized distributors of the Contracts. We determine from time to time the interest
rates that we will guarantee for Initial and Subsequent Guarantee Periods. The guaranteed interest
rate will in no event be less than the minimum rate required by applicable law. We, in our sole
discretion, determine the guaranteed interest rates, which will never be less than 1% or, if
greater, the non-forfeiture interest rate required in the state we issue your Contract. We
guarantee the interest rate for the duration of the Guarantee Period and may not change it. From
time to time, we may offer customers of certain authorized distributors special Initial Guaranteed
Interest Rates which are higher than the Initial Guaranteed Interest Rate on Contracts offered
through other authorized distributors. In consideration of these higher interest rates, we may
reduce the rate of
</DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">compensation payable to the authorized distributor of Contracts with special
Initial Guaranteed Interest Rates. In addition, we may modify the Market Value Adjustment in these
situations to reduce the extent of the adjustment that would normally apply<B>.</B>
</DIV>

<DIV align="left">
<A name="109"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Subsequent Guarantee Periods</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You will have a period of 30&nbsp;days commencing with the expiration of a Guarantee Period to elect In
Writing a Subsequent Guarantee Period from among those that are available. We also permit you to
elect a Subsequent Guarantee Period by telephone. At least 15&nbsp;days, but not more than 45&nbsp;days prior
to that period, we will provide you with written notice of the expiry of the Guarantee Period. <B>If
you do not elect a Subsequent Guarantee Period within the required period, we will select the next
shortest Guarantee Period available. </B>The effective date of the Subsequent Guarantee Period will be
the first day following the expiry of the immediately preceding Guarantee Period. Your Account
Value will not be subject to any Market Value Adjustment at the time it is applied to a Subsequent
Guarantee Period pursuant to this provision.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At the end of a Guarantee Period, you may choose a Subsequent Guarantee Period from any of the
Guarantee Periods that we are then offering at the then current interest rate, all without the
imposition of any charge.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may offer as many as ten Guarantee Periods, ranging from one year through ten years, in
connection with the Contracts, but we may limit the number of Guarantee Periods we make available
at any time, or through any authorized distributor of the Contracts. All Guarantee Periods may not
be available through all authorized distributors of the Contracts. You will be required to select
the shortest available Guarantee Period if all of the then-available Guarantee Periods have
expiration dates that would extend beyond the maximum Maturity Date. In that event, we will extend
the maximum Maturity Date to coincide with the expiration date of the shortest available Guarantee
Period. For example, assume you are age 91 when your current Guarantee Period expires, the maximum
Maturity Date at the time will occur when you are age 95, and the shortest then-available Guarantee
Period is a 5-Year Term. If you choose to elect a Subsequent Guarantee Period, you must elect the
5-Year Guarantee Period even though you will be 96, and past the maximum Maturity Date when the
5-Year Guarantee Period expires. Once you elect the 5-Year Guarantee Period, we will extend the
maximum Maturity Date to occur when you are age 96. (See &#147;III. Description of the Contract &#151;
Annuity Provisions&#148; for more information about the Maturity Date.)
</DIV>

<DIV align="left">
<A name="110"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Withdrawals</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Prior to the earlier of the Maturity Date or the death of a Contract Owner, you may withdraw all or
a portion of your Account Value by written request, complete with all necessary information, to our
Annuities Service Center. For certain Qualified Contracts, the Code and regulations promulgated by
the IRS may require the consent of a Qualified Plan participant&#146;s spouse to an exercise of the
withdrawal right. (See &#147;IV. Charges, Deductions and Adjustments &#151; Adjustments and Charges Upon
Withdrawals.&#148;)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under our current administrative practices for partial withdrawals, we will permit you to specify
whether the amount you request is to be treated as a &#147;gross&#148; withdrawal amount or a &#147;net&#148;
withdrawal amount. If you request a &#147;gross&#148; amount, we will reduce the Account Value of your
Contract by the amount requested, apply any applicable withdrawal charges and adjustments to the
amount withdrawn from your Account Value and pay you the difference. Because we impose charges upon
a withdrawal, the amount you receive is likely to be less than the &#147;gross&#148; amount you requested.
Application of a Market Value Adjustment will further decrease the amount you receive, if the
adjustment is negative, and will increase the amount you receive or your remaining Account Value,
if the adjustment is positive. (See &#147;IV. Charges, Deductions and Adjustments &#151; Adjustments and
Charges Upon Withdrawals.&#148;)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you request a &#147;net&#148; amount, and you have sufficient Account Value, we will reduce your Account
Value by the gross amount necessary to cover any applicable withdrawal charges and adjustments and
leave a balance for payment to you of the &#147;net&#148; amount requested. (We may, however, be required to
reduce the amount actually paid to you because of tax withholding requirements. Please read &#147;VII.
Federal Tax Matters&#148; for more information.) The amount you receive as a result of a &#147;net&#148; request
may be less than the amount of reduction of your Account Value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you do not specify if you want a &#147;gross&#148; amount or a &#147;net&#148; amount, we will process your partial
withdrawal request as a request for a &#147;net&#148; amount. We also may change our current administrative
practices and discontinue processing &#147;gross&#148; requests at any time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is no limit on the frequency of partial withdrawals. However, the amount withdrawn from your
Account Value must be at least equal to $1,000, the minimum amount specified in the Contract, or,
if less, the entire Account Value. If a partial withdrawal plus any applicable withdrawal charge,
after giving effect to any applicable Market Value Adjustment (see &#147;IV. Charges, Deductions and
Adjustments&#148; for instances when a Market Value Adjustment would not apply), would reduce the
Account Value to less than $5,000, the minimum specified in the Contract, we may treat the partial
withdrawal as a total withdrawal of the Account Value.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We treat all requests for a total withdrawal of the Account Value as a request to surrender your
Contract for a &#147;gross&#148; amount. As a result:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>you may receive less than the amount requested because of the imposition of contract
charges, including any applicable administrative fee, and a Market Value Adjustment; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we will cancel your Contract as of the date we receive the request at our Annuities
Service Center.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may defer the payment of a full or partial withdrawal for not more than six months (or the
period permitted by applicable state law if shorter) from the date we receive the withdrawal
request. If we defer payments for more than 30&nbsp;days, we will credit the amount deferred with
interest at a rate not less than the minimum required by applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Impact of Divorce</B>. In the event that you and your spouse become divorced after you purchase a
Contract, we will treat any request to reduce or divide benefits under a Contract as a request for
a withdrawal of Account Value. The transaction may be subject to any applicable tax or withdrawal
charge.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Withdrawals are subject to Contract charges and Market Value Adjustments (see &#147;Adjustments And
Charges Upon Withdrawals&#148;). Withdrawals from the Contract also may be subject to income tax and a
10% penalty tax.</B>
</DIV>

<DIV align="left">
<A name="111"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Signature Guarantee Requirements for Surrenders and Withdrawals</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">(<I>Not applicable to Contracts issued in New Jersey</I>)<br>
<BR STYLE="FONT-SIZE: 6PT">

We may require that you provide a signature guarantee on a surrender or withdrawal request in the
following circumstances:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>you are requesting that we mail the amount withdrawn to an alternate address; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>you have changed your address within 30&nbsp;days of the withdrawal request; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>you are requesting a withdrawal in the amount of $250,000 or greater.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We must receive the original signature guarantee on your withdrawal request. We will not accept
copies or faxes of a signature guarantee. You may obtain a signature guarantee at most banks,
financial institutions or credit unions. A notarized signature is not the same as a signature
guarantee and will not satisfy this requirement. There may be circumstances, of which we are not
presently aware, in which we would not impose a signature guarantee on a surrender or withdrawal as
described above.
</DIV>

<DIV align="left">
<A name="112"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Special Withdrawal Services &#151; The Systematic Withdrawal Program</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We administer a Systematic Withdrawal Program (&#147;SWP&#148;) which permits you to pre-authorize a periodic
withdrawal of a specified amount of Account Value. We apply a Market Value Adjustment factor and
assess withdrawal charges if a SWP withdrawal exceeds the free withdrawal amount (see &#147;IV. Charges,
Deductions and Adjustments &#151; Free Withdrawal Amount&#148;). SWP withdrawals, like other withdrawals,
may be subject to income tax and a 10% penalty tax. If you are interested in a SWP, you may obtain
a separate authorization form and full information concerning the program and its restrictions from
your registered representative or our Annuities Service Center. There is no charge for
participation in the SWP program.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may modify or suspend the SWP program at any time. If we do, existing systematic withdrawal
payments will not be affected.
</DIV>

<DIV align="left">
<A name="113"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Telephone and Electronic Transactions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When you purchase a Contract, we will automatically permit you to request withdrawals by telephone.
We also permit you to elect Subsequent Guarantee Periods by telephone. We also encourage you to
access information about your Contract electronically through the Internet. We encourage you to
register for electronic delivery of your transaction confirmations. Please contact the John Hancock
Annuities Service Center at the applicable telephone number or Internet address shown on page ii of
this prospectus for more information on electronic transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To access information and perform electronic transactions through our website, we require you to
create an account with a username and password, and to maintain a valid e-mail address. You may
also authorize other people to make certain transaction requests by telephone or electronically
through the Internet by sending us instructions in a form acceptable to us. If you register for
electronic delivery, we keep your personal information confidential and secure, and we do not share
this information with outside marketing agencies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not be liable for following instructions communicated by telephone or electronically that
we reasonably believe to be genuine. We may be liable for any losses due to unauthorized or
fraudulent instructions only where we fail to employ our procedures properly. We will employ
reasonable procedures to confirm that instructions we receive are genuine. Our procedures require
you to provide information to verify your identity when you call us and we will record all
conversations with you. When someone contacts
us by telephone and follows our procedures, we will assume that you are authorizing us to act upon
those instructions. For electronic
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">transactions through the Internet, you will need to provide your username and password. You are
responsible for keeping your password confidential and must notify us of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any loss or theft of your password; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any unauthorized use of your password.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All financial transaction instructions we receive by telephone or electronically will be followed
by either a hardcopy or electronic delivery of a transaction confirmation. Transaction instructions
we receive by telephone or electronically before the close of any Business Day will usually be
effective at the end of that day. Your ability to access or transact business electronically may be
limited due to circumstances beyond our control, such as system outages, or during periods when our
telephone lines or our website may be busy. We may, for example, experience unusual volume during
periods of substantial market change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may suspend, modify or terminate our telephone or electronic transaction procedures at any time.
We may, for example, impose limits on the maximum Withdrawal Amount available to you through a
telephone transaction.
</DIV>

<DIV align="left">
<A name="114"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Death Benefit Before Maturity Date</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any Owner dies prior to the date Annuity Payments were scheduled to begin, the death benefit
will be equal to the Account Value, as of the date on which written notice and proof of death (Due
Proof of Death) and all required claim forms are received in good order at our Annuities Service
Center.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is
an individual. If any Owner is a non-natural person, the death of an Annuitant is treated as the
death of an Owner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. If the Owner
predeceases the Co-Owner, the Co-Owner will be treated as the Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the deceased Owner&#146;s Beneficiary is a surviving spouse who falls within the definition of
&#147;spouse&#148; under the Federal Defense of Marriage Act (&#147;DOMA&#148;), he or she may continue the Contract as
the Owner, subject to the requirements of section 72(s) of the Code. If a spouse Beneficiary elects
not to continue the Contract or if the Beneficiary is not the surviving spouse of the deceased
Owner, the death benefit may be distributed:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as an Annuity Option as described in the Contract, provided that payments are made for
the life of the Beneficiary or for a period not to extend beyond the Beneficiary&#146;s life
expectancy, with such annuity payments to begin within one year from the date of the
Owner&#146;s death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>over the life of the Beneficiary, or over a period not to extend beyond the life
expectancy of the Beneficiary, with such distributions beginning within one year from the
date of the Owner&#146;s death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within five years of the Owner&#146;s death; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in one lump sum.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If distribution is not made within five years and the Beneficiary has not specified one of the
above forms of payment, we will distribute a lump sum cash payment of the Beneficiary&#146;s portion of
the death benefit. Also, if distribution is not made as an annuity, upon the death of the
Beneficiary, any remaining death benefit proceeds will be distributed immediately in a single sum
cash payment. Withdrawal Charges will be waived on any withdrawals under (ii), (iii)&nbsp;or (iv). If
the Beneficiary dies before distributions under (ii)&nbsp;or (iii)&nbsp;are complete, the remaining death
benefit must be distributed in a lump sum immediately. If there is more than one Beneficiary, the
foregoing provisions will independently apply to each Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Upon request, the death benefit proceeds may be taken in the form of a lump sum. In that case, we
will pay the death benefit within seven calendar days of the date that we determine the amount of
the death benefit, subject to postponement under the same circumstances for which payment of
withdrawals may be postponed (see &#147;Withdrawals&#148; above). Beneficiaries who opt for a lump sum payout
of their portion of the death benefit may choose to receive the funds either in a single check or
wire transfer or in a John Hancock Safe Access Account (&#147;JHSAA&#148;). Similar to a checking account,
the JHSAA provides the Beneficiary access to the payout funds via a checkbook, and account funds
earn interest at a variable interest rate. Any interest paid may be taxable. The Beneficiary can
obtain the remaining death benefit proceeds in a single sum at any time by cashing one check for
the entire amount. The Beneficiary may draw a check on the JHSAA that is payable to himself/herself
as well as to any other person or party. Note, however, that a JHSAA is not a true checking
account, but is solely a means of distributing the Contract&#146;s death benefit. The Beneficiary can
only make withdrawals and not deposits. The JHSAA is part of our general account; it is not a bank
account and it is not insured by the FDIC or any other government agency. As part of our general
account, it is subject to the claims of our creditors. We receive a benefit from all amounts left
in the JHSAA.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the deceased Owner&#146;s Beneficiary is a surviving spouse as defined by DOMA, he or she may
continue the Contract as the new Owner without triggering adverse federal tax consequences. In such
a case, the distribution rules applicable when a Contract Owner dies will apply when the spouse, as
the Owner, dies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contract will terminate if the death benefit is taken in one sum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If a surviving spouse Beneficiary decides to continue the Contract as the Owner, subject to section
72(s) of the Code, the new Owner must carry out the current Guarantee Period and, thereafter,
applicable Market Value Adjustments will apply to amounts withdrawn as described under the
Contract. Such amounts may be adjusted upward or downward by the application of a Market Value
Adjustment factor. Subject to the rights of an irrevocable Beneficiary, the new Owner, if living,
otherwise the new Owner&#146;s estate, in such instance may name a new Beneficiary and, if no
Beneficiary is so named, the decedent Beneficiary&#146;s estate will be the Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the Contract is held as part of a Qualified Plan, the terms of your Qualified Plan endorsement
form will control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will permit the Owner to limit the death benefit option(s) to be offered to any named
Beneficiary, if the Owner provides notice In Writing to the Company prior to death and the desired
option(s) is one provided for in the Contract.
</DIV>

<DIV align="left">
<A name="115"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Annuity Provisions</B>
</DIV>

<DIV align="left">
<A name="116"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>General</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may apply the proceeds of the Contract payable on death or annuitization to the Annuity Options
described below, subject to the distribution of death benefit provisions (see &#147;Accumulation
Provisions &#151; Death Benefit Before Maturity Date&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Generally, annuity benefits under the Contract will begin on the Maturity Date (the
&#147;Annuitization&#148;). The Maturity Date is the date specified on the Contract specifications page,
unless changed. If no date is specified, the Maturity Date is the maximum Maturity Date. The
maximum Maturity Date is the first day of the month following the 95<SUP style="FONT-size: 85%; vertical-align: text-top">th</SUP> birthday of the
Annuitant. You may specify a different Maturity Date at any time by written request at least one
month before both the previously specified and the new Maturity Date. Without our consent, the new
Maturity Date may not be later than the maximum Maturity Date.<SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP> You will be required to
select the shortest available Guarantee Period if all of the then-available Guarantee Periods have
expiration dates that would extend beyond the maximum Maturity Date. The Maximum Maturity Date
will be revised to match the expiration date of that shortest available Subsequent Guarantee
Period. The occurrence or scheduled occurrence of Maturity Dates when the Annuitant is at an
advanced age, <I>e.g</I>., past age 95, may in some circumstances have adverse income tax consequences
(see &#147;VII. Federal Tax Matters&#148; for a more detailed discussion). Distributions from Qualified
Contracts may be required before the Maturity Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may select the frequency of Annuity Payments. However, if the Account Value at the Maturity
Date is such that a monthly payment would be less than our minimum then in effect, we may make a
single payment in one lump sum adjusted by any Market Value Adjustment, if applicable, to the
Annuitant or Payee on the Maturity Date.
</DIV>

<DIV align="left">
<A name="117"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Annuity Options</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Annuity benefits are available under the Contract on a fixed basis. When you purchase a Contract,
and on or before the Maturity Date, you may select one of the Annuity Options described below or
choose an alternate form of settlement acceptable to us. If you do not select an Annuity Option, we
will provide as a default option that Annuity Payments be made for a period certain of ten years
and continue thereafter during the lifetime of the Annuitant. IRS regulations may preclude the
availability of certain Annuity Options in connection with certain Qualified Contracts. After the
Maturity Date, the Annuitant or Annuity Option selected may not be changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We guarantee the following Annuity Options in the Contract:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Option (a): Non-Refund Life Annuity. </I>We will make Annuity Payments during the
lifetime of the Annuitant. No payments are due after the death of the Annuitant. Since
we do not guarantee that any minimum number of payments will be made, an Annuitant may
receive only one payment if the Annuitant dies prior to the date the second payment is
due.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>We will deny our consent to a later
Maturity Date based upon any current or future legal restrictions imposed by
state laws and regulations, by regulatory authorities or by the Code and the
IRS. Currently, for Nonqualified Contracts, the IRS has not provided guidance
with respect to a maximum date on which annuity payments must start. In the
event that any future rulings, regulations, or other pronouncements by the IRS
provide us with guidance, we may need to restrict your ability to change to a
Maturity Date under a Nonqualified Contract which occurs when the Annuitant is
at an advanced age (for example, past age 95). You should consult with a
qualified tax advisor for information about potential adverse tax consequences
for such Maturity Dates.</TD>
</TR>

</TABLE>


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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Option (b): Life Annuity with Payments Guaranteed for 5, 10 or 20 Years. </I>We will make
Annuity Payments for the guaranteed period elected and continuing thereafter during the
lifetime of the Annuitant. Since we guarantee payments for the period elected, we will
make Annuity Payments to the end of such period even if the Annuitant dies prior to the
end of the period.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Option (c): A Single Sum</I>.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the foregoing Annuity Options which we are contractually obligated to offer at all
times, we may offer other Annuity Options in the future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Only an Account Value of $5,000 or more may be applied to one of the Annuity Options offered. If
the amount of the first Annuity Payment would be less than our minimum requirements then in effect,
we may make a single payment, adjusted by any Market Value Adjustment, if applicable, on the date
the first payment is payable. This single payment is in place of all other benefits provided by the
Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective January&nbsp;1, 2011, section 72(a)(2) of the Code permits partial annuitization of an annuity
contract and specifies that the tax cost basis, or investment in the contract, be allocated pro
rata between the portion of the contract being annuitized and the portion of the contract remaining
deferred. Currently, we do not support partial annuitization. Accordingly, any portion of your
Contract that you withdraw to be annuitized will be reported to the IRS as a taxable distribution
unless you transfer it into another contract (issued by John Hancock or by another company) in a
partial exchange conforming to the rules of section 1035 of the Code and Rev. Proc. 2011-38. Any
such withdrawal, whether carried out as a tax-deferred partial exchange or as a taxable withdrawal,
will be subject to Market Value Adjustment and withdrawal charges.
</DIV>

<DIV align="left">
<A name="118"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Death Benefit on or After Maturity Date</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you have selected an Annuity Option providing for payments for a guaranteed period, and the
Annuitant dies on or after the Maturity Date, we will make the remaining guaranteed payments to the
Beneficiary. We will make any remaining payments at least as rapidly as under the method of
distribution being used as of the date of the Annuitant&#146;s death. If no Beneficiary is living, we
will commute any unpaid guaranteed payments to a single sum (on the basis of the interest rate used
in determining the payments) and pay that single sum to the estate of the last to die of the
Annuitant and the Beneficiary.
</DIV>

<DIV align="left">
<A name="119"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Other Contract Provisions</B>
</DIV>

<DIV align="left">
<A name="120"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Right to Review</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may cancel the Contract by returning it to our Annuities Service Center or to your financial
advisor within a specified number of days after receipt of the Contract. The right to review period
may vary in certain states in order to comply with the requirements of insurance laws and
regulations in such states. The right to review period applicable to you, usually between 15 and 30
days, will appear on the cover page of the Contract delivered to you. Within seven days after we
receive the returned Contract, we will pay you an amount equal to either the current Account Value
or your full Purchase Payment, as required by state insurance laws and regulations. Payment of the
Account Value will be adjusted by any Market Value Adjustment, if applicable, and computed on the
date your Contract is received by us. The Market Value Adjustment will only be applied where the
change, up or down, in the guaranteed interest rate in effect when you purchase your Contract and
the rate in effect on the date of cancellation, as determined by the Market Value Adjustment
formula, is greater than 0.25%. If the purchase of this Contract involves the replacement of any
existing life insurance or annuity, then the right to review period is extended to 30&nbsp;days. If the
Contract is issued as an IRA under section 408 or section 408A of the Code, and you cancel the
Contract during the first seven days of this right to review period, then we will return to you the
greater of the Account Value or the Payment made for the Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We do not impose any withdrawal charge upon return of the Contract within the right to review
period, as determined by state insurance law.
</DIV>

<DIV align="left">
<A name="121"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Ownership</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of an individual annuity Contract, the Contract Owner is the person entitled to
exercise all rights under the Contract. In the case of a group annuity Contract, the group
annuity Contract is owned by the Group Holder; however, all Contract rights and privileges
not expressly reserved to the Group Holder may be exercised by each Certificate Owner as to
such Owner&#146;s interest as specified in his or her Certificate. The Contract Owner is the
person designated in the Contract specifications page or as subsequently named. If amounts
become payable to any Beneficiary under the Contract, then the Beneficiary becomes the
Contract Owner.
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of Contracts which do not receive favorable tax treatment under sections 401,
408, 408A or 457 of the Code (&#147;Nonqualified Contracts&#148;), you may change the ownership of or
collaterally assign the Contract at any time prior to the
Maturity Date, subject to the rights of any irrevocable Beneficiary. Assigning a Contract,
or changing the ownership of a Contract, may be treated as a distribution of the Account
Value for federal tax purposes (see &#147;VII. Federal Tax Matters&#148; for a more detailed
discussion).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You must make any request for a change of ownership or assignment In Writing, and such a
request is subject to our approval. If approved by us, any assignment and any change will be
effective as of the date we receive your request at our Annuities Service Center. We assume
no liability for any payments made or actions taken before we approve a change or accept an
assignment and no responsibility for the validity or sufficiency of any assignment. If you
make an absolute assignment, it will revoke the interest of any revocable Beneficiary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of Qualified Contracts, ownership of the Contract generally may be transferred
only by the trustee of an exempt employees&#146; trust which is part of a retirement plan
qualified under section 401 of the Code or as otherwise permitted by applicable IRS
regulations. Subject to the foregoing, a Qualified Contract may not be sold, assigned,
transferred, discounted or pledged as collateral for a loan or as security for the
performance of an obligation or for any other purpose to any person other than us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As the Owner of the Contract, you may have access to information for you or a member of your
family that we may provide regarding elder care needs and questions and informational
assistance that may help you identify various elder care service agencies available in your
community (not available in California).
</DIV>

<DIV align="left">
<A name="122"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Beneficiary</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Beneficiary is the person, persons or entity designated in the Contract specifications page or
as subsequently named. However, if there is a surviving Contract Owner, that person will be treated
as the Beneficiary. You may change the Beneficiary subject to the rights of any irrevocable
Beneficiary. You must make any request for a change In Writing. Such a request is subject to our
approval and if approved by us, the change will be effective on the date the request is signed. We
assume no liability for any payments made or actions taken before we approve the change. If no
Beneficiary is living, the Contingent Beneficiary will be the Beneficiary. The interest of any
Beneficiary is subject to that of any assignee. If no Beneficiary or Contingent Beneficiary is
living, the Beneficiary is the estate of the deceased Contract Owner. In the case of certain
Qualified Contracts, IRS regulations prescribe certain limitations on the designation of a
Beneficiary.
</DIV>

<DIV align="left">
<A name="123"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Annuitant</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Annuitant is any natural person or persons to whom we will make Annuity Payments (unless you
designate a different Payee) and whose life is used to determine the duration of Annuity Payments
involving life contingencies. If you name more than one person as an Annuitant, the second person
named will be referred to as &#147;co-Annuitant.&#148; The Annuitant is as designated on the Contract
specifications page or in the application, unless changed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On the death of the Annuitant, the co-Annuitant, if living, becomes the Annuitant. If there is no
living co-Annuitant, the Owner becomes the Annuitant. In the case of certain Qualified Contracts,
there are limitations on the ability to designate and change the Annuitant and the co-Annuitant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may change the Annuitant subject to the rights of any irrevocable Beneficiary. You must make
any request for a change In Writing. Such a request is subject to our approval and, if approved by
us, the change will be effective as of the date we receive your request at our Annuities Service
Center. The Annuitant may not be changed after the Maturity Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any Annuitant is changed and any Contract Owner is not a natural person, we normally distribute
the entire interest in the Contract to the Contract Owner within five years. We will reduce the
amount distributed by charges or Market Value Adjustment that would otherwise apply upon
withdrawal.
</DIV>

<DIV align="left">
<A name="124"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Spouse</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Federal Definition of Spouse. </B>Any federal tax provisions related to status as a &#147;spouse&#148; are
governed by the Federal Defense of Marriage Act (&#147;DOMA&#148;), which does not recognize civil unions or
same-sex marriages that may be allowed under state law. Please consult with your own qualified tax
advisor for information on how federal tax rules may affect Contracts where civil union or same-sex
marriage partners either singularly or jointly own the Contract, or are designated Annuitant(s) or
Beneficiary(ies).
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>State Variations. </B>Some states require that civil union and same-sex marriage partners receive the
same contractual benefits as spouses who fall within the DOMA definition. You should consult with a
qualified financial professional for additional information on your state&#146;s regulations regarding
civil unions and same-sex marriages.
</DIV>

<DIV align="left">
<A name="125"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Modification</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not change or modify the Contract without the consent of the Owner or Group Holder, as
applicable, except to the extent necessary to conform to any applicable law or regulation or any
ruling issued by a government agency. However, on 30-days notice, to the Group Holder, we may
change the withdrawal charges, administration fees, free withdrawal percentage, annuity purchase
rate and the Market Value Adjustment as to any Certificates issued after the effective date of the
modification<B>.</B>
</DIV>

<DIV align="left">
<A name="126"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Code Section&nbsp;72(s)</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order for our Nonqualified Contracts (i.e., Contracts not purchased to fund an IRA or other
Qualified Plan) to be treated as annuities under the Code, we will interpret the provisions of the
Contract so as to comply with the requirements of section 72(s) of the Code, which prescribes
certain required provisions governing distributions after the death of the Owner.
</DIV>

<DIV align="left">
<A name="127"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Our Approval</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may accept or reject a Contract application in our sole discretion, which we will exercise in a
non-discriminatory manner.
</DIV>

<DIV align="left">
<A name="128"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Discontinuance of New Owners</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of a group annuity Contract, we may, on 30-days, notice to the Group Holder, limit or
discontinue acceptance of new applications and the issuance of new Contracts to group members or
participants.
</DIV>

<DIV align="left">
<A name="129"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Misstatement and Proof of Age, Sex or Survival</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may require proof of age, sex or survival of any person upon whose age, sex or survival an
Annuity Payment depends. If the age or sex of the Annuitant has been misstated, the benefits will
be those that would have been provided for the Annuitant&#146;s correct age and sex. If we have made
incorrect Annuity Payments, the amount of any underpayments will be paid immediately. The amount of
any overpayment will be deducted from future Annuity Payments. We will uniformly charge or credit
interest in accordance with state law, as applicable.
</DIV>

<DIV align="left">
<A name="130"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Non-participating</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your Contract is non-participating and will not share in our profits or surplus earnings. We will
pay no dividends on your Contract.
</DIV>




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<DIV align="left">
<A name="131"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">IV. Charges, Deductions and Adjustments
</DIV>

<DIV align="left">
<A name="132"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Adjustments And Charges Upon Withdrawals</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may apply a Market Value Adjustment factor and assess withdrawal charges under the Contracts if
you request a partial or full withdrawal of Account Value or annuitize any amount prior to the end
of either the Initial Guarantee Period or a Subsequent Guarantee Period. Where permitted by state
law, we may also assess an administrative fee if you request a full withdrawal of Account Value or
annuitize any amount prior to the end of these periods.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not apply a Market Value Adjustment factor or assess withdrawal charges:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if you request a withdrawal or annuitize any amount during the 30-day period after
the expiration of any Guarantee Period. (We must receive your written request for
withdrawal during the 30-day period following the end of that Guarantee Period); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if you request to withdraw or annuitize any available free withdrawal amount; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if we cancel your Contract should you make withdrawals that bring your Account Value
below $5,000 (However, if the Account Value at the Maturity Date is such that a monthly
payment would be less than our minimum in effect, we may make a single payment in one
lump sum adjusted by any Market Value Adjustment, if applicable, to the Annuitant or
Payee on the Maturity Date); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if you should be confined to an eligible Nursing Home as described below in &#147;Waiver
of Withdrawal Charge and MVA &#151; Confinement to Nursing Home&#148; and request any withdrawal
of your Account Value; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in connection with our payment of Contract proceeds following the death of the Owner
or, if applicable, the Annuitant, except as described in &#147;Accumulation Provisions -
Death Benefit Before Maturity Date.&#148;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will not apply withdrawal charges on distributions made from a one-year or a two-year
Subsequent Guarantee Period, if available. <I>For Contracts issued in Florida on or after January
1, 2011 to residents aged 65&nbsp;years or older, we will not apply withdrawal charges on any
withdrawals taken after the tenth Contract Anniversary.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide information on the free withdrawal amount, Market Value Adjustment factor and withdrawal
charges in the sections that follow. We next provide examples to illustrate how these impact
&#147;gross&#148; and &#147;net&#148; requests to withdraw Account Value. We provide information on the administrative
fee that we may impose under the Contracts in &#147;Other Charges And Deductions.&#148;
</DIV>

<DIV align="left">
<A name="133"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Free Withdrawal Amount</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We do not apply a Market Value Adjustment factor or assess withdrawal charges if your request does
not exceed a free withdrawal amount. The free withdrawal amount is the greatest of:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the annual RMD amount with respect to a Qualified Contract (see &#147;VII. Federal Tax
Matters&#148;) for an Owner who has reached age 70<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount of interest credited during the 12&nbsp;months prior to the date of the
request, less any Gross Withdrawal Amounts taken during the 12&nbsp;month period prior to the
date of the request; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the amount payable to the Beneficiary.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<A name="134"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Market Value Adjustment Factor</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Market Value Adjustment factor may decrease or increase the amount that we pay to you or apply
to an Annuity Option. We determine the Market Value Adjustment factor by the following formula:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="right"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="b89822a1b8982202.gif" alt="(EQUATION)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>
where:</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>i</I> =</B></TD>
    <TD width="1%"><B><I>&nbsp;</I></B></TD>
    <TD><B><I> </I></B> the guaranteed rate in effect for the current Guarantee Period (expressed as a
decimal).</TD>
</TR>




</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>j =</I></B></TD>
    <TD width="1%"><B><I>&nbsp;</I></B></TD>
    <TD><B><I> </I></B> the current rate (expressed as a decimal) in effect for durations equal to the
time remaining in the current Guarantee Period. If the time remaining in the Guarantee
Period is not a whole number of years, then the rate will be interpolated, based upon
the number of months remaining, between the current rates offered from the closest
durations. If not available, we will declare a rate solely for this purpose that is
consistent with rates for durations that are currently available.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>k =</I></B></TD>
    <TD width="1%"><B><I>&nbsp;</I></B></TD>
    <TD><B><I> </I></B> the adjustment factor. This is designed to compensate us for certain expenses
and losses that we may incur, either directly or indirectly, as a result of withdrawal
or annuitization. Thus, even if the issued <B><I>i </I></B>rate and the withdrawal <B><I>j </I></B>rate are equal,
the adjustment factor <B><I>k </I></B>will cause the Market Value Adjustment to be negative. This
factor effectively reduces the amount paid and functions as an additional withdrawal
charge.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>n =</I></B></TD>
    <TD width="1%"><B><I>&nbsp;</I></B></TD>
    <TD><B><I> </I></B>the number of months from the date of withdrawal to the end of the current
Guarantee Period. In the case of partial months, <B><I>n </I></B>is rounded up to the next month.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Market Value Adjustment reflects the relationship between the guaranteed interest rate in
effect for your Contract at the time of a withdrawal or annuitization and the guaranteed interest
rate we then make available for new Guarantee Periods equal to the remaining term of the Guarantee
Period under your Contract. In general:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the guaranteed interest rate in effect for your Contract is <B><I>lower </I></B>than our
currently available guaranteed interest rate for a term equal to the remaining term of
the Guarantee Period under your Contract, the Market Value Adjustment will <B><I>reduce </I></B>the
amount withdrawn or annuitized or the balance of your Account Value; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if the guaranteed interest rate in effect for your Contract is <B><I>higher </I></B>than our
currently available guaranteed interest rate for a term equal to the remaining term of
the Guarantee Period under your Contract, the Market Value Adjustment will <B><I>increase </I></B>the
amount withdrawn or annuitized or the balance of your Account Value.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The greater the difference in these interest rates the greater the effect of the Market Value
Adjustment. The Market Value Adjustment also has a greater effect when interest rates increase than
when they decrease. As can be seen from the examples in Appendix&nbsp;A, the negative adjustment that
results from a 1% increase in interest rates is higher in amount than the positive adjustment that
results from a 1% decrease in interest rates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Market Value Adjustment is also affected by the amount of time remaining in the Guarantee
Period. Generally, the longer the time remaining in the Guarantee Period, the greater the effect of
the Market Value Adjustment on the amount withdrawn or annuitized. This is because the longer the
time remaining in the Guarantee Period, the higher the compounding factor <B><I>n </I></B>in the Market Value
Adjustment factor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Market Value Adjustment, alone or in combination with applicable withdrawal charges, could
result in your receiving total withdrawal proceeds of less than your Purchase Payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Because of the Market Value Adjustment provision of the Contract, you bear the investment risk that
the current available guaranteed interest rate offered by us at the time of withdrawal or
annuitization may be higher than the initial or subsequent guarantee interest rate applicable to
the Contract with the result that the amount you receive upon a withdrawal or annuitization may be
substantially reduced.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For more information on the Market Value Adjustment, including examples of its calculation, see &#147;IV
&#151; Charges, Deductions and Adjustments &#151; Impact of Market Value Adjustment and Withdrawal Charge&#148;
and Appendix&nbsp;A: &#147;Example of Market Value Adjustment Calculation.&#148;
</DIV>

<DIV align="left">
<A name="135"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Withdrawal Charge</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please see Appendix&nbsp;B for a schedule of withdrawal charges applicable to the Contracts we offer
through this prospectus. A withdrawal charge will reduce the amount payable to you if you make a
withdrawal in excess of the free withholding amount from the Contract before the end of your chosen
Guarantee Period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We calculate the amount of the withdrawal charge by multiplying the Gross Withdrawal Amount, less
any administration fee and free withdrawal amount, by the applicable withdrawal charge percentage
obtained from the tables set forth in Appendix&nbsp;B. We use separate withdrawal charge percentages for
Initial and Subsequent Guarantee periods. (Please read &#147;III. Description of the Contract -
Withdrawals&#148; and Appendix&nbsp;B: &#147;Withdrawal Charge Schedules&#148; for more information.)
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may subject withdrawals to a Market Value Adjustment in addition to the withdrawal charge
described above (see &#147;IV. Charges, Deductions and Adjustments &#151; Market Value Adjustment Factor&#148; and
&#147;IV. Charges, Deductions and Adjustments &#151; Impact of Market Value Adjustment and Withdrawal
Charge&#148;). The Market Value Adjustment, alone or in combination with applicable withdrawal charges,
could result in your receiving total withdrawal proceeds of less than your Purchase Payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Withdrawals may be subject to income tax to the extent of earnings under the Contract and, if made
prior to age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>, may also be subject to a 10% penalty tax (see &#147;VII. Federal Tax Matters -
Taxation of Partial and Full Withdrawals&#148;).
</DIV>

<DIV align="left">
<A name="136"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Waiver of Applicable Withdrawal Charge and MVA &#151; Confinement to Nursing Home</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt"><I>(Not available in California and Massachusetts)</I><BR>
<BR style="font-size: 6pt">
In states where approved, any applicable withdrawal charge and market
value adjustment will be
waived on a full or partial withdrawal prior to the Maturity Date if
(1)&nbsp;beginning at least 30&nbsp;days
after the Contract Date a &#147;triggering event&#148; occurs and
(2)&nbsp;the Covered Person&#146;s reached age is
less than age 80 on the Contract Date. Triggering events are as follows:

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Covered Person being diagnosed with a first occurrence of any Covered Condition,
subject to the Pre-existing Condition Limitation; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Covered Person&#146;s confinement in a Nursing Home.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order for a Covered Person to be considered confined in a Nursing Home, the following conditions
must be met:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person was not confined to a Nursing Home within two years prior to the
Effective Date of the Contract.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person&#146;s confinement is for at least 90 consecutive days;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a Covered Person is receiving Nursing Care;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is based on a Physician&#146;s plan in accordance with accepted standards
of medical practice, and is Medically Necessary;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">e.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is needed because of a Covered Person&#146;s inability to perform at least
two of the Activities of Daily Living without Human Assistance because of either Physical
Impairment or Cognitive Impairment; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">f.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Nursing Care is received while the contract is in force, and is not assigned.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Covered Person&#148; means the Owner. &#147;Covered Person&#148; will mean the Annuitant if the Contract is
owned by a Trust.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Nursing Home&#148; means a facility which meets both of the following requirements:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is licensed and operated to provide Nursing Care for a charge (including room and
board), according to the laws of the jurisdiction in which it is
located; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>has services performed by or under the continual, direct, and immediate supervision of a
registered nurse, licensed practical nurse, or licensed vocational nurse, on-site 24 hours
per day.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A Nursing Home may be a freestanding facility or it may be a distinct part of a facility, including
a ward, wing, or swing-bed of a hospital or other facility.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Nursing Home does not mean:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a hospital or clinic;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a rehabilitation hospital or facility;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an assisted care living facility;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a rest home (a home for the aged or a retirement home) which does not, as its primary
function, provide custodial care;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>your primary place of residence, including your living quarters in a continuing care
retirement community or similar entity; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a facility for the treatment of alcoholism, drug addiction, or mental illness.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Pre-Existing Condition Limitation. </B>We will not waive any withdrawal charge for a diagnosis of a
first occurrence of a Covered Condition during the first two years (six months for Contracts issued
in North Dakota, one year for Contracts issued in Montana) after the effective date of the Contract
if it results from a Pre-existing Condition, as defined in your Contract. This limitation does not
apply to any Contract issued in Alabama, Alaska, Arizona, Connecticut, Florida, Georgia, Hawaii,
Illinois, Indiana, Kansas, Missouri, Nebraska, New Jersey, South Carolina, Tennessee, Virginia or
Wyoming.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Pre-existing Condition&#148; generally means the existence of symptoms which would cause an ordinarily
prudent person to seek medical diagnosis, care, and treatment within one year before the effective
date of the Contract or a condition for which medical consultation, advice, or treatment was
recommended by or received from or sought from a Physician during the two years immediately
preceding the effective date of the Contract.
</DIV>





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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A &#147;Physician&#148; is a person other than you, the Annuitant(s) or a member of your or the Annuitant&#146;s
families who is a licensed medical doctor (M.D.) or a licensed doctor of osteopathy (D.O.),
practicing within the scope of that license.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please refer to your Contract for additional information on Activities of Daily Living, Nursing
Care and other terms not specifically discussed in this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The waiver described above is not available in all states and certain terms may vary depending on
the state of issue as noted in your Contract. Withdrawals may be taxable and if made prior to age
59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT> may be subject to a 10% penalty tax (see &#147;VII. Federal Tax Matters&#148;).</B>
</DIV>

<DIV align="left">
<A name="137"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Impact of Market Value Adjustment and Withdrawal Charge</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide the following three examples to illustrate how we calculate and apply the Market Value
Adjustment factor and withdrawal charge. These examples are based on the assumptions we use and are
not indicative of the actual impact the Market Value Adjustment factor and withdrawal charges will
have on your Contract. The Market Value Adjustment is based, in part, on the guaranteed interest
rates we make available for new Guarantee Periods at the time of a withdrawal and is subject to
change. The Withdrawal Charge Schedule applicable to your Contract may vary from the Withdrawal
Charge Schedule applicable to other Contracts we may offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We retain all withdrawal charges and all &#147;negative&#148; Market Value Adjustments. We generally pay you
&#147;positive&#148; Market Value Adjustments, except in situations where a &#147;net&#148; partial withdrawal request
results in a portion of a positive Market Value Adjustment being used to cover applicable
withdrawal charges.<U></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">EXAMPLE 1 (Impact on a Total Withdrawal):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Assume that you make a request for a total withdrawal of Account Value at a time when:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>your Account Value is $16,800;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the free withdrawal amount is $800;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the withdrawal charge is 6%;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>your current guaranteed rate is 4%;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Guarantee Period in effect for your Contract is seven years, and you make the
request at the beginning of the third year of the Guarantee Period (i.e., there are five
years remaining for that Guarantee Period); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the guaranteed interest rate we are then offering for a new five year Guarantee
Period is 5%.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 1</I>: We first determine the portion of the Gross Withdrawal Amount that is subject to a Market
Value Adjustment and withdrawal charges. Since you requested a total withdrawal of Account Value,
we subtract the free withdrawal amount ($800) from your Account Value ($16,800). The Gross
Withdrawal Amount subject to Market Value Adjustment and withdrawal charges in this case is
$16,000.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 2</I>: We next determine the Market Value Adjustment. In this example, the guaranteed interest
rate we assume to be in effect for your Contract (4%) is <I>lower </I>than the guaranteed interest rate we
assume to be offering for the remaining term of your guaranteed interest period (5% for a 5&nbsp;year
term). These are the same assumptions we use in the first example in Appendix&nbsp;A, and we would
calculate a Market Value Adjustment factor as shown in that example (0.94201) to <I>reduce </I>the amount
payable to you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the Gross Withdrawal Amount
that is subject to a Market Value Adjustment ($16,000) by the Market Value Adjustment factor of
0.94201, which produces a result of $15,072. The amount of the Market Value Adjustment is the
difference between $15,072 and $16,000, or a negative $928.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 3</I>: We next determine the amount of your withdrawal charge. To do this, we multiply the Gross
Withdrawal Amount that is subject to a withdrawal charge ($16,000) by the 6% surrender charge to
produce a surrender charge of $960.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 4: </I>We next subtract the Market Value Adjustment ($928) and the withdrawal charge ($960) from
your Account Value ($16,800). This results in a net amount payable to you of $14,912, assuming that
we do not have to withhold any amounts for taxes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">EXAMPLE 2 (Impact on a Request for a &#147;Net&#148; Partial Withdrawal):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This example uses the same assumptions as EXAMPLE 1, except that you request a &#147;net&#148; partial
withdrawal of $6,000 (with no tax withholding) instead of a total withdrawal of Account Value.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 1: </I>We will calculate a Gross&#148; Withdrawal Amount that is large enough to cover any applicable
Market Value Adjustment and withdrawal charge so that you will receive the requested &#147;net&#148; amount.
To do this, we need to use a mathematical formula, as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Gross Withdrawal Amount =</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><IMG src="b89822a1b8982203.gif" alt="(EQUATION)"></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this example,
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Gross Withdrawal Amount = {$6,000 &#043; $800 &#215;
(&#091;.94201 &#150; 1&#093; - .06)} / (1 &#043; &#091;.94201 &#150;
1&#093; - .06}
= $6,696</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 2</I>: We next determine the amount of the Market Value Adjustment. We determine the applicable
Market Value Adjustment factor (0.94201) in the same manner as in Step 2 of EXAMPLE 1. Since we do
not apply the Market Value Adjustment factor to the free withdrawal amount, we first subtract the
free withdrawal amount ($800) from the Gross Withdrawal Amount calculated above ($6,696). We then
multiply the difference ($5,896) by the Market Value Adjustment factor, which produces a result of
$5,554. The amount of the Market Value Adjustment is the difference between $5,554 and <B>$</B>5,896, or a
negative $342.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 3</I>: We next determine the amount of the withdrawal charge. Since we do not apply the withdrawal
charge to the free withdrawal amount, we first reduce the Gross Withdrawal Amount calculated above
($6,696) by the free withdrawal amount ($800). We then multiply the difference ($5,896) by the 6%
withdrawal charge. This results in a withdrawal charge of $354.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 4</I>: As a result of your assumed request for a &#147;net&#148; partial withdrawal of $6,000, we would
deduct a total of $6,696 from your Account Value. We would pay you the requested $6,000, and your
remaining Account Value would equal $10,104. Your Contract would remain in force.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">EXAMPLE 3 (Impact on a Request for a &#147;Gross&#148; Partial Withdrawal):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This Example uses the same assumptions as EXAMPLE 1, except that you request a &#147;gross&#148; partial
withdrawal of $6,000 (with no tax withholding), or fail to make a request for a &#147;net&#148; partial
withdrawal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 1</I>: We first determine the portion of the partial withdrawal request that is subject to a
Market Value Adjustment and withdrawal charges. Since you requested a &#147;gross&#148; partial withdrawal of
Account Value, we subtract the free withdrawal amount ($800) from the total amount of your request
($6,000). The Gross Withdrawal Amount subject to Market Value Adjustment and withdrawal charges in
this case is $5,200.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 2</I>: We next determine the amount of the Market Value Adjustment. We determine the applicable
Market Value Adjustment factor (0.94201) in the same manner as in Step 2 of EXAMPLE 1. We then
multiply the amount determined under Step 1 ($5,200), by the Market Value Adjustment factor of
0.94201, which produces a result of $4,898. The amount of the Market Value Adjustment is the
difference between $4,898 and $5,200, or a negative $302.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 3</I>: We next determine the amount of your withdrawal charge. To do this, we multiply the Gross
Withdrawal Amount that is subject to a withdrawal charge ($5,200) by the 6% withdrawal charge to
produce a withdrawal charge of $312.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Step 4: </I>As a result of your assumed request for a &#147;gross&#148; partial withdrawal of $6,000, we would
deduct a total of $6,000 from your Account Value. We would reduce the amount payable by $614 (which
is the sum of the $302 Market Value Adjustment and $312 surrender charge), and pay you $5,386. Your
remaining Account Value would equal $10,800 and your Contract would remain in force.
</DIV>





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<DIV align="left">
<A name="138"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Other Charges and Deductions</B>
</DIV>

<DIV align="left">
<A name="139"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Taxes</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We reserve the right to charge or provide for certain taxes against Purchase Payments, Account
Values, death benefits or Annuity
Payments. Such taxes may include premium taxes or other taxes levied by any government entity which
we determine to have resulted from the:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>establishment of the MVA Separate Account;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>receipt by us of Purchase Payments;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>issuance of the Contracts;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>commencement or continuance of Annuity Payments under the Contracts; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>death of the Owner or Annuitant.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, we will withhold taxes to the extent required by applicable law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except for residents of those states which apply premium taxes upon receipt of Purchase Payments,
we will deduct premium taxes from the Account Value used to provide for Annuity Payments. For
residents of those states which apply premium taxes upon receipt of Purchase Payments, we will
deduct premium taxes upon payment of any withdrawal or death benefits or upon any annuitization.
The amount deducted will depend on the premium tax assessed in the applicable state. State premium
taxes currently range from 0% to 3.5% of the Purchase Payment, depending on the jurisdiction and
the tax status of the Contract and are subject to change by the legislature or other authority (see
Appendix&nbsp;C: &#147;State Premium Taxes&#148;).
</DIV>

<DIV align="left">
<A name="140"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Administration Fee</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To compensate us for assuming certain administrative expenses, we reserve the right to charge an
annual administration fee, which will never exceed $50.00. If imposed, the fee will be detailed on
your Contract&#146;s specifications page. Prior to the Maturity Date, we will deduct the administration
fee on each Contract Anniversary. If you surrender the Contract for its Account Value on any date
other than the Contract Anniversary, we will deduct the full amount of the administration fee from
the amount paid. After the Maturity Date, the administration fee is deducted on a pro rata basis
from each Annuity Payment.
</DIV>









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<DIV align="left">
<A name="141"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">V. General Information About Us
</DIV>

<DIV align="left">
<A name="142"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Company</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Your Contract is issued by John Hancock USA, formerly known as &#147;The Manufacturers Life Insurance
Company (U.S.A.),&#148; a stock life insurance company originally organized under the laws of Maine on
August&nbsp;20, 1955 by a special act of the Maine legislature. John Hancock USA redomesticated under
the laws of Michigan on December&nbsp;30, 1992. John Hancock USA is authorized to transact life
insurance and annuity business in all states (except New York), the District of Columbia, Guam,
Puerto Rico and the Virgin Islands. Its principal office is located at 601 Congress Street, Boston,
Massachusetts 02210-2805. John Hancock USA also has an Annuities Service Center at 164 Corporate
Drive, Portsmouth, NH 03801-6815.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The ultimate parent of John Hancock USA is MFC, a publicly traded company, based in Toronto,
Canada. The Company changed its name to John Hancock Life Insurance Company (U.S.A.) on January&nbsp;1,
2005 following MFC&#146;s acquisition of John Hancock Financial Services, Inc.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Rating Agencies, Endorsements and Comparisons. </B>We are ranked and rated by independent financial
rating services, including Moody&#146;s Investors Service, Inc., Standard &#038; Poor&#146;s Rating Services,
Fitch Ratings Ltd. and A.M. Best Company. The purpose of these ratings is to reflect the financial
strength or claims-paying ability of John Hancock USA. The ratings are not intended to reflect the
investment experience or financial strength of the MVA Separate Account or the Contracts. The
ratings are available on our website. We may from time to time publish the ratings in
advertisements, sales literature, reports to Contract Owners, etc. In addition, we may include
ratings in certain promotional literature endorsements in the form of a list of organizations,
individuals or other parties that recommend the Company or the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Regulation. </B>John Hancock USA is subject to the laws of the State of Michigan governing insurance
companies and to the regulation of Michigan&#146;s Office of Financial and Insurance Regulation. In
addition, we are subject to regulation under the insurance laws of other jurisdictions in which we
operate. Regulation by the applicable insurance department includes periodic examination of our
operations, including contract liabilities and reserves. Regulation by supervisory agencies
includes licensing to transact business, overseeing trade practices, licensing agents, approving
policy forms, establishing reserve requirements, fixing maximum interest rates on life insurance
policy loans and minimum rates for accumulation of surrender values, prescribing the form and
content of required financial statements and regulation of the type and amounts of investments
permitted. Our books and accounts are subject to review by the applicable insurance department and
other supervisory agencies at all times, and we file annual statements with these agencies. A full
examination of our operations is conducted periodically by the applicable insurance departments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under insurance guaranty fund laws in most states, insurers doing business therein can be assessed
(up to prescribed limits) for policyholder losses incurred by insolvent companies. The amount of
any future assessments on us under these laws cannot be reasonably estimated. Most of these laws do
provide, however, that an assessment may be excused or deferred if it would threaten an insurer&#146;s
own financial strength.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although the federal government generally does not directly regulate the business of insurance,
federal initiatives often have an impact on the business in a variety of ways. Federal legislation
that removed barriers preventing banks from engaging in the insurance business or that changed the
federal income tax treatment of insurance companies, insurance company products, or employee
benefit plans could significantly affect the insurance business.
</DIV>

<DIV align="left">
<A name="143"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>MVA Separate Account</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We established the Company&#146;s MVA Separate Account in 2009 as a non-unitized separate account under
Michigan law. The MVA Separate Account is not registered as an investment company under the U.S.
Investment Company Act of 1940, as amended. The Company maintains in its MVA Separate Account
assets which it selects in accordance with applicable state law and which have a market value (or
other value prescribed by applicable state law) equal to the reserves the Company must maintain for
the Contracts and its other liabilities with respect to the account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A Contract Owner has no interest in the performance of a MVA Separate Account. A Contract Owner&#146;s
Account Value is based on the interest rates we guarantee under the Contract and not on the
performance of a MVA Separate Account. Any gain or loss in the Company&#146;s MVA Separate Account
accrues solely to the Company, and we assume any risk associated with the possibility that the
value of the assets in the MVA Separate Account might fall below the reserves and other liabilities
that must be maintained. Should the value of the assets in the Company&#146;s MVA Separate Account fall
below reserve and other liabilities, the Company will transfer assets from its General Account to
its MVA Separate Account to make up the shortfall. The Company reserves the right to transfer to
its General Account any assets of its MVA Separate Account in excess of such reserves and other
liabilities.
</DIV>





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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company currently intends to use its MVA Separate Account only to support the obligations under
the Contracts described in this prospectus, but it reserves the right to maintain assets in its MVA
Separate Account to support any number of other kinds of annuity contracts which it offers or may
offer. These annuity contract owners would stand in an equal position with regard to claims against
the underlying assets in the MVA Separate Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Both the assets accounted for in the Company&#146;s MVA Separate Account and all the other assets
maintained in its General Account are available to meet the Company&#146;s guarantees under its
contracts. These assets are not insulated from the claims of the Company&#146;s creditors and may be
charged with liabilities which arise from other business the Company conducts. See &#147;VI. The MFC
Subordinated Guarantee&#148; for information on the parent company&#146;s, Manulife Financial Corporation&#146;s,
guarantee of the MVA interest in the Contracts.
</DIV>

<DIV align="left">
<A name="144"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Distribution of the Contract</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our wholly-owned subsidiary, John Hancock Distributors, LLC (&#147;JH Distributors&#148;), acts as principal
underwriter of the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contracts will be sold by registered representatives of broker-dealers authorized by JH
Distributors to sell them. Such registered representatives will also be our licensed insurance
agents. JH Distributors will pay distribution compensation to authorized broker-dealers in varying
amounts which under normal circumstances are not expected to exceed 5% of Purchase Payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registered representative through whom your Contract is sold will be compensated pursuant to
that registered representative&#146;s own arrangement with his or her broker-dealer. The registered
representative and the firm may have multiple options on how they wish to allocate their
commissions and/or compensation. We are not involved in determining your registered
representative&#146;s compensation. You are encouraged to ask your registered representative about the
basis upon which he or she will be personally compensated for the advice or recommendations
provided in connection with the sale of your Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We may make additional payments to firms. These payments are sometimes referred to as &#147;revenue
sharing.&#148; Revenue sharing expenses are any payments made to broker-dealers or other intermediaries
to either (i)&nbsp;compensate the intermediary for expenses incurred in connection with the promotion
and/or sale of John Hancock investment products or (ii)&nbsp;obtain promotional and/or distribution
services for John Hancock investment products. Many firms that sell the Contracts receive one or
more types of these cash payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are among several insurance companies that pay additional payments to certain firms to receive
&#147;preferred&#148; or recommended status. These privileges include: additional or special access to sales
staff; opportunities to provide and/or attend training and other conferences; advantageous
placement of our products on customer lists (&#147;shelf-space arrangements&#148;); and other improvements in
sales by featuring our products over others.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Revenue sharing payments assist in our efforts to promote the sale of the Contracts and could be
significant to a firm. Not all firms, however, receive additional compensation. We determine which
firms to support and the extent of the payments we are willing to make, and generally choose to
compensate firms that are willing to cooperate with our promotional efforts and have a strong
capability to distribute the Contracts. We do not make an independent assessment of the cost of
providing such services. Instead, we agree with the firm on the methods for calculating any
additional compensation. The methods, which vary by firm, may include different categories to
measure the amount of revenue sharing payments, such as the level of sales, assets attributable to
the firm and the annuity contracts covered under the arrangement (including contracts issued by any
of our affiliates). The categories of revenue sharing payments that we may provide to firms,
directly or through JH Distributors, are not mutually exclusive and may vary from contract to
contract. Currently, we have revenue sharing agreements in effect with Edward Jones and Signator
Investors, Inc. We or our affiliates may make additional types of revenue sharing payments for
other products, and may enter into new revenue sharing arrangements in the future.
</DIV>







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<DIV align="left">
<A name="145"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VI. The MFC Subordinated Guarantee
</DIV>

<DIV align="left">
<A name="146"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Description of Manulife Financial Corporation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee is issued by MFC. MFC was incorporated under the Insurance Companies
Act (Canada) in 1999 for the purpose of becoming the holding company of The Manufacturers Life
Insurance Company, which was founded in 1887. As a mutual life insurance company, The Manufacturers
Life Insurance Company had no common shareholders and its board of directors was elected by its
participating policyholders. In September&nbsp;1999, The Manufacturers Life Insurance Company
implemented a plan of demutualization and converted into a life insurance company with common
shares and became a wholly-owned subsidiary of MFC. MFC&#146;s head office and registered office is
located at 200 Bloor Street East, Toronto, Ontario, Canada M4W 1E5 (Tel. No.&nbsp;416-926-3000).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC and its subsidiaries provide financial protection and wealth management products and services,
including individual life insurance, group life and health insurance, long-term care insurance,
pension products, annuities and mutual funds. These services are provided to individual and group
customers in Asia, Canada and the United States. MFC and its subsidiaries also provide investment
management services with respect to MFC&#146;s general fund assets, segregated fund assets and mutual
funds and to institutional customers. MFC and its subsidiaries also offer reinsurance solutions,
specializing in property and casualty retrocession. MFC has directly or indirectly held all of the
outstanding shares of John Hancock USA capital stock since September&nbsp;1999.
</DIV>

<DIV align="left">
<A name="147"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Description of the MFC Subordinated Guarantee</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>What additional guarantee applies to the Guarantee Periods under my contract?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock USA&#146;s ultimate parent, MFC, guarantees John Hancock USA&#146;s obligations with respect to
any Contract to which this prospectus relates (the &#147;MFC Subordinated Guarantee&#148;). The MFC
Subordinated Guarantee will apply unless and until we notify you otherwise. If we give you such
notice, however, the MFC Subordinated Guarantee would remain in effect for all Guarantee Periods
that had already started, and would be inapplicable only to Guarantee Periods starting after the
date of such notice. The MFC Subordinated Guarantee does not relieve the Company of any obligations
under your Contract &#151; it is in addition to all of the rights and benefits that the Contract
provides. There is no charge or cost to you for the MFC Subordinated Guarantee, and there are no
disadvantages to you of having this additional guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>What are the reasons for the additional MFC Subordinated Guarantee?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee is being offered in order to relieve John Hancock USA of the
obligation to file with the SEC annual, quarterly and current reports on Form 10-K, Form 10-Q and
Form 8-K, and thus save the expense of being an SEC reporting company. MFC, the company that is
providing the MFC Subordinated Guarantee, is the ultimate parent of all of the companies in the
John Hancock group of companies, including John Hancock USA. MFC is a company organized under the
laws of Canada and its common shares are listed principally on the Toronto Stock Exchange and the
New York Stock Exchange. MFC files with the SEC annual reports on Form 40-F and other reports on
Form 6-K. The financial results of John Hancock USA are included in MFC&#146;s consolidated financial
statements in a footnote containing condensed consolidating financial information with separate
columns for MFC, John Hancock USA and other subsidiaries of MFC, together with consolidating
adjustments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>What are the terms of the MFC Subordinated Guarantee?</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC guarantees your full interest in any Guarantee Period to which this prospectus relates. This
means that, if John Hancock USA fails to honor any valid request to surrender or withdraw any
amount from a Guarantee Period, or fails to allocate amounts from a Guarantee Period to an annuity
option when it is obligated to do so, MFC guarantees the full amount that you would have received,
or value that you would have been credited with, had John Hancock USA fully met its obligations
under your Contract with respect to such Guarantee Period. If John Hancock USA fails to pay any
amount that becomes payable under the Contract upon the death of an Owner or Annuitant, MFC
guarantees the unpaid amount, up to the Account Value in any Guarantee Period on the date of death,
increased by any accrued but uncredited interest attributable thereto. There is no charge or cost
to you for receiving the MFC Subordinated Guarantee. If John Hancock USA fails to make payment when
due of any amount that is guaranteed by MFC, you could directly request MFC to satisfy John Hancock
USA&#146;s obligation, and MFC must do so. You would not have to make any other demands on John Hancock
USA as a precondition to making a claim against MFC under the MFC Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee is issued pursuant to a subordinated guarantee dated July&nbsp;15, 2009,
whereby MFC is the guarantor.
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Unless otherwise set forth herein, the MFC Subordinated Guarantee will constitute an unsecured
obligation of MFC as guarantor, and will be subordinated in right of payment to the prior payment
in full of all other obligations of MFC, except for other guarantees or
obligations of MFC which by their terms are designated as ranking equally in right of payment with
or subordinated to the MFC Subordinated Guarantee, and effectively rank senior to MFC&#146;s preferred
and common shares. As a result, in the event of MFC&#146;s bankruptcy, liquidation, dissolution,
winding-up or reorganization or upon acceleration of any series of debt securities due to an event
also triggering payment obligations on other debt, MFC&#146;s assets will be available to pay its
obligations on the MFC Subordinated Guarantee only after all secured indebtedness and other
indebtedness senior to the MFC Subordinated Guarantee has been paid in full. There may not be
sufficient assets remaining to pay amounts due on all or any portion of the MFC Subordinated
Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MFC Subordinated Guarantee will be governed by the laws of the Commonwealth of Massachusetts.
The MFC Subordinated Guarantee will provide that any claim or proceeding brought by a holder to
enforce the obligations of MFC, as guarantor, may be brought in a court of competent jurisdiction
in the City of Boston, Commonwealth of Massachusetts, and that MFC submits to the non-exclusive
jurisdiction of such courts in connection with such action or proceeding. MFC has designated John
Hancock USA as its authorized agent upon whom process may be served in any legal action or
proceeding against MFC arising out of or in connection with the MFC Subordinated Guarantee. All
payments on the Contracts offered by this prospectus by MFC under the MFC Subordinated Guarantee
will be made without withholding or deduction for, or on account of, any present or future taxes,
duties, assessments or governmental charges of whatever nature imposed or levied by or on behalf of
the Government of Canada, or any province, territory or political subdivision thereof, or any
authority therein or thereof having power to tax, unless the withholding or deduction of such
taxes, duties, assessments or governmental charges by MFC is required by law or by the
administration or interpretation of such law. In the event of any withholding or deduction, MFC
will pay such additional amounts as may be necessary in order that the net amounts received by the
holders of the Contracts offered by this prospectus after such withholding or deduction shall equal
the respective amounts under such Contracts which would have been receivable in respect of those
Contracts in the absence of such withholding or deduction (&#147;Guarantor Additional Amounts&#148;), except
as described herein and except that no such Guarantor Additional Amounts shall be payable with
respect to any Contract offered by this prospectus:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;by reason of his being a person with whom John Hancock USA or MFC is not
dealing at arm&#146;s length for the purposes of the Income Tax Act (Canada), or (ii)&nbsp;by
reason of his having a connection with Canada or any province or territory thereof other
than the mere holding, use or ownership or deemed holding, use or ownership of such
Contract;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by reason of his being liable for or subject to such withholding or deduction
because of his failure to make a claim for exemption to the relevant tax authority; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>more than 10&nbsp;days after the Relevant Date (as defined below) except to the extent
that the holder thereof would have been entitled to Guarantor Additional Amounts on
presenting the same for payment on the last day of such period of 10&nbsp;days.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As used herein &#147;Relevant Date&#148; shall mean the date on which such payment first becomes due.
</DIV>

<DIV align="left">
<A name="148"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Where You Can Find More Information</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC is subject to the information requirements of the U.S. Securities Exchange Act of 1934, as
amended, and, in accordance with that Act, files reports and other information with the SEC. Under
a multijurisdictional disclosure system adopted by the United States and Canada, these reports and
other information (including financial information) may be prepared in accordance with the
disclosure requirements of Canada, which are different from those of the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may read and copy any reports, statements or other information filed by MFC (Registrant
001-14942) at the SEC&#146;s Public Reference Room, Station Place, 100 F Street, N.E., Washington, D.C.
20549. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the Public
Reference Room. You can also inspect reports, proxy statements and other information about MFC at
the offices of the New York Stock Exchange, 20 Broad Street, New York, New York 10005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may also obtain copies of this information by mail from the Public Reference Section of the
SEC, Station Place, 100 F Street, N.E., Washington, D.C. 20549, at prescribed rates, or from
commercial document retrieval services.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The SEC maintains a website that contains reports, proxy statements and other information,
including those filed by MFC, at http://www.sec.gov. You may also access the SEC filings and obtain
other information about MFC through the website maintained by MFC, which is
http://www.manulife.com. The information contained in, or accessible through, that website is not
incorporated by reference into this prospectus.
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company and MFC filed a joint registration statement on Form F-3 (the &#147;Registration Statement&#148;)
relating to the Contracts offered by this prospectus with the SEC under the U.S. Securities Act of
1933, as amended. This prospectus is a part of the Registration Statement. As permitted by SEC
rules, this prospectus does not contain all the information you can find in the Registration
Statement. The SEC allows MFC to &#147;incorporate by reference&#148; information into this prospectus, which
means that we can disclose important
information to you by referring you to other documents filed separately with the SEC. For more
information about the Contracts and us, you may obtain a copy of the Registration Statement (For
Contracts issued prior to July&nbsp;20, 2012, File numbers 333-159101 and 333-159101-01 and for
Contracts issued on or after July&nbsp;20, 2012, File numbers
333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> and 333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>) in the
manner set forth in the preceding paragraphs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The information incorporated by reference is deemed to be part of this prospectus, except for any
information superseded by information in this prospectus. These documents contain important
information about the companies and their financial condition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC incorporates by reference the documents listed below, which were filed with the SEC:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MFC&#146;s Reports of Foreign Issuer on Form 6-K filed on April&nbsp;14, May&nbsp;13, July&nbsp;18,
July&nbsp;25, August 12, and November&nbsp;10, 2011;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibit&nbsp;99.3 to MFC&#146;s Reports of Foreign Issuer on Form 6-K filed on March&nbsp;25,
2011, other than the sections entitled &#147;Report of the Management Resources and
Compensation Committee,&#148; &#147;Performance Graph&#148; and &#148;Supplemental Shareholder Return&#148;;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31, 2010, as filed
on March&nbsp;18, 2011 and as amended and filed on Form 40-F/A on March&nbsp;25, 2011, other than
the section of the Annual Information Form entitled &#147;Ratings&#148;; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31, 2009, as filed
on March&nbsp;19, 2010 and as amended and filed on Form 40-F/A on March&nbsp;29, 2010, other than
the section of the Annual Information Form entitled &#147;Ratings.&#148;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Copies of the documents incorporated in this prospectus by reference may be obtained on request
without charge from:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
ATTN: Corporate Secretary<BR>
200 Bloor Street East, NT-10<BR>
Toronto, Ontario Canada M4W 1E5<BR>
Telephone: (416)&nbsp;926-3000

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any annual reports on Form 20-F, Form 40-F or Form 10-K, any reports on Form 10-Q or Form 8-K,
other than current reports furnished to the SEC pursuant to Item&nbsp;2.02 or Item&nbsp;7.01 of Form 8-K, and
any Form 6-K specifying that it is being incorporated by reference in this prospectus, as well as
all prospectus supplements disclosing additional or updated information, filed by MFC with the SEC
subsequent to the date of this prospectus shall be deemed to be incorporated by reference into this
prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any statement contained in this prospectus or in a document incorporated or deemed to be
incorporated by reference in this prospectus shall be deemed to be modified or superseded for
purposes of this prospectus to the extent that a statement contained in this prospectus or in any
other subsequently filed document which also is or is deemed to be incorporated by reference in
this prospectus modifies or supersedes such prior statement. Any statement or document so modified
or superseded shall not, except to the extent so modified or superseded, be incorporated by
reference and constitute a part of this prospectus.
</DIV>

<DIV align="left">
<A name="149"></A>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Enforcement of Judgments</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC is a corporation incorporated under the laws of Canada. Because a substantial portion of MFC&#146;s
assets are located outside the United States and most of its directors and officers are not
residents of the United States, any judgment obtained in the United States against MFC or certain
of its officers and directors, including a judgment with respect to payments on the MFC
Subordinated Guarantee, may not be collectible within the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the MFC Subordinated Guarantee, MFC agrees that any legal action or proceeding against
it arising out of or in connection with the MFC Subordinated Guarantee may be brought in any United
States federal or Massachusetts state court located in the City of Boston, Commonwealth of
Massachusetts (a &#147;Massachusetts Court&#148;), and irrevocably submits to the non-exclusive jurisdiction
of such courts in connection with such action or proceeding.
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MFC has been informed by its Canadian counsel, Torys LLP, that the laws of the Province of Ontario
and the federal laws of Canada applicable therein permit an action to be brought in a court of
competent jurisdiction in that province on any final judgment in personam of any Massachusetts
Court against MFC, which judgment is subsisting and unsatisfied for a fixed sum of money with
respect to the enforcement of the MFC Subordinated Guarantee and that is not impeachable as void or
voidable under the internal laws of the Commonwealth of Massachusetts if:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the court rendering such judgment had jurisdiction over the judgment debtor, as
recognized by the courts of Ontario (submission by MFC in the MFC Subordinated Guarantee
to the non-exclusive jurisdiction of a Massachusetts Court will be sufficient for this
purpose);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such judgment was not obtained by fraud or in a manner contrary to natural
justice and the enforcement thereof would not be inconsistent with public policy, as
such term is understood under the laws of Ontario and the federal laws of Canada
applicable therein or contrary to any order made by the Attorney General of Canada under
the Foreign Extraterritorial Measures Act (Canada) or by the Competition Tribunal under
the Competition Act (Canada);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the enforcement of such judgment does not constitute, directly or indirectly,
the enforcement of foreign revenue or penal laws in the Province of Ontario; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the action to enforce such judgment is commenced within the applicable limitation
period.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Enforcement of a judgment by a court in the Province of Ontario, as described above, may only be
given in Canadian dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the opinion of Torys LLP, there are currently no reasons under the present laws of the Province
of Ontario for avoiding recognition of said judgments of Massachusetts Courts on the MFC
Subordinated Guarantee based upon public policy. However, it may be difficult for holders of
Contracts to effect service within the United States upon MFC&#146;s directors and officers and the
experts named in this prospectus who are not residents of the United States or to enforce against
them, both in and outside of the United States, judgments of courts of the United States predicated
upon civil liability under United States federal securities laws. MFC has designated John Hancock
USA as its authorized agent upon whom process may be served in any legal action or proceeding
against MFC arising out of or in connection with the applicable MFC Subordinated Guarantee. Based
on the opinion of Torys LLP, MFC believes that a monetary judgment of a United States court
predicated solely upon the civil liability provisions of United States federal securities laws
would likely be enforceable in Canada if the United States court in which the judgment was obtained
had a basis for jurisdiction in the matter that was recognized by a Canadian court for such
purposes. We cannot assure you that this will be the case since the case law in Canada in respect
of this matter is not entirely clear. It is less certain that an action could be brought in Canada
in the first instance on the basis of liability predicated solely upon such laws.
</DIV>



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</DIV>



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<DIV align="left">
<A name="150"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VII. Federal Tax Matters
</DIV>

<DIV align="left">
<A name="151"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Introduction</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any discussion of the federal income tax treatment of the Contracts contained in this
prospectus is not exhaustive, does not purport to cover all situations, and is not intended as tax
advice and is not intended for and cannot be used for the purpose of avoiding penalties. The
federal income tax treatment of the Contracts is unclear in certain circumstances, and you should
consult a qualified and independent tax advisor with regard to the application of law to your
individual circumstances. Bear in mind that the tax-related discussions herein may have been
written to support the promotion or marketing of a transaction or other matter that is relevant to
you for tax purposes. The following discussion is based on the Code, IRS regulations, and
interpretations existing on the date of this prospectus. These authorities, however, are subject to
change by Congress, the IRS, and judicial decisions. The prospectus does not address state or local
tax consequences associated with the purchase of the Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>We make no guarantee regarding any tax treatment, federal, state or local, of any Contract or of
any transaction involving a Contract.</B>
</DIV>

<DIV align="left">
<A name="152"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Our Tax Status</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are taxed as a life insurance company under the Code. The assets in the MVA Separate
Account are owned by us, and the income derived from such assets is includible in our income for
federal income tax purposes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Charitable Remainder Trusts</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This federal tax discussion does not address tax consequences of a Contract used in a charitable
remainder trust. The tax consequences of charitable remainder trusts may vary depending on the
particular facts and circumstances of each individual case. Additionally, the tax rules governing
charitable remainder trusts, or the taxation of a Contract used with a charitable remainder trust,
may be subject to change by legislation, regulatory changes, judicial decrees or other means. You
should consult competent legal or tax counsel regarding the tax treatment of a charitable remainder
trust before purchasing a Contract for use within it.
</DIV>

<DIV align="left">
<A name="153"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Nonqualified Contracts</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Tax Deferral During Accumulation Period</I></B><I>.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except where the Owner is not an individual, we expect our Contracts to be considered annuity
contracts under Section&nbsp;72 of the Code. This means that, ordinarily, federal income tax on any
gains in your Account Value will be deferred until we actually make a distribution to you or you
assign or pledge an interest in your Contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">However, a Contract held by an Owner other than a natural person (for example, a corporation,
partnership, limited liability company, trust, or other such entity) does not generally qualify as
an annuity contract for tax purposes. Any increase in value therefore would constitute ordinary
taxable income to such an Owner in the year earned. Notwithstanding this general rule, a Contract
will ordinarily be treated as held by a natural person if the nominal Owner is a trust or other
entity which holds the Contract as an agent for a natural person. This exception does not apply in
the case of any employer which is the nominal owner of an annuity contract under a nonqualified
deferred compensation arrangement for its employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the foregoing, if the Contract&#146;s maturity date occurs, or is scheduled to occur, at
a time when the annuitant is at an advanced age, such as over age 95, it is possible that the Owner
will be taxable currently on the annual increase in the account value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The remainder of this discussion assumes that the Contract will constitute an annuity for federal
tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Partial and Total Withdrawals. </B>In the case of a partial withdrawal, amounts received
generally are includible in income to the extent the Owner&#146;s Account Value before the withdrawal
exceeds his or her &#147;investment in the contract.&#148; In the case of a total withdrawal, amounts
received are includible in income to the extent they exceed the &#147;investment in the contract.&#148; For
these purposes the &#147;investment in the contract&#148; at any time equals the total of the Purchase
Payments made under the Contract to that time less any amounts previously received from the
Contract which were not included in income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Other than in the case of Qualified Contracts (which generally cannot be assigned or pledged), any
assignment or pledge (or agreement to assign or pledge) of any portion of the Account Value is
treated as a withdrawal of such amount or portion. The investment in the Contract is increased by
the amount includible in income with respect to such assignment or pledge, though it is not
affected by any other aspect of the assignment or pledge (including its release). If you transfer
your interest in a Contract without adequate consideration to a person other than your spouse (or a
former spouse incident to divorce), you will be taxed on the difference between your Account Value
and the investment in the Contract at the time of transfer. In such case, the transferee&#146;s
investment in the Contract will be increased by the amount included in the transferor&#146;s income.
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is some uncertainty regarding the treatment of the Market Value Adjustment for purposes of
determining the amount includible in income as a result of any partial withdrawal, assignment or
pledge, or transfer without adequate consideration. The IRS has regulatory authority to address
this uncertainty. However, as of the date of this prospectus, the IRS has not issued any final
regulations addressing these determinations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Annuity Payments. </B>When we make payments under a Contract in the form of Annuity
Payments, normally a portion of each annuity payment is taxable as ordinary income. The taxable
portion of an Annuity Payment is equal to the excess of the payment over the <I>exclusion amount</I>. The
exclusion amount is the amount determined by multiplying (1)&nbsp;the payment by (2)&nbsp;the ratio of the
investment in the Contract, adjusted for any period certain or refund feature, to the total
expected value of Annuity Payments for the term of the Contract (determined under Treasury
Department regulations). A simplified method of determining the taxable portion of Annuity Payments
applies to Contracts issued in connection with certain Qualified Plans other than IRAs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Once the total amount of the investment in the Contract has been excluded using this ratio, further
Annuity Payments will be fully taxable. If Annuity Payments cease because of the Annuitant dies
before all of the investment in the Contract is recovered, the unrecovered amount generally will be
allowed as a deduction to the owner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There may be special income tax issues present in situations where the Owner and the Annuitant are
not the same person or are not married. You should consult a tax advisor in those situations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective January&nbsp;1, 2011, section 72(a)(2) of the Code permits partial annuitization of an
annuity contract and specifies that the tax cost basis, or investment in the contract, be allocated
pro rata between the portion of the contract being annuitized and the portion of the contract
remaining deferred. Currently, we do not support partial annuitization. Accordingly, any portion
of your Contract that you withdraw to be annuitized will be reported to the IRS as a taxable
distribution unless you transfer it into another contract (issued by John Hancock or by another
company) in a partial exchange conforming to the rules of section 1035 of the Code and Rev. Proc.
2011-38. Any such withdrawal, whether carried out as a tax-deferred partial exchange or as a
taxable withdrawal, will be subject to Market Value Adjustment and withdrawal charges.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Taxation of Death Benefit Proceeds. </B>Amounts may be distributed from a Contract because of the
death of an Owner or, if the Owner is not a natural person, the death of the Annuitant. Prior to
the Maturity Date, such death benefit proceeds are includible in income as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed in a lump sum, they are taxed in the same manner as a full withdrawal,
as described above; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed under an Annuity Option, they are taxed in the same manner as Annuity
Payments; as described above; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed as a series of withdrawals over the Beneficiary&#146;s life
expectancy, they are taxable to the extent there is gain in the Contract.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After the Maturity Date, where a guaranteed period exists under an Annuity Option and the Annuitant
dies before the end of that period, payments made to the Beneficiary for the remainder of that
period are includible in income as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if received in a lump sum, they are includible in income to the extent that they
exceed the unrecovered investment in the contract at that time; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if distributed in accordance with an existing Annuity Option other than a Period
Certain Only Annuity Option, they are fully excludable from income until the remaining
investment in the contract is deemed to be recovered, and all Annuity Payments
thereafter are fully includible in income; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If distributed in accordance with an existing Period Certain Only Annuity Option, the
payments are taxed the same as the annuity payments made before death. A portion of each
annuity payment is includible in income and the remainder is excluded from income as a
return of the investment in the Contract.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Penalty Tax on Premature Distributions. </B>There generally is a 10% penalty tax on the taxable
portion of any payment from the Contract. This penalty is not applicable if the payment
is:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>received on or after the date on which the Owner reaches age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attributable to the Owner becoming disabled (as defined in the tax law);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made on or after the death of the Owner or, if the Owner is not an individual, on or
after the death of the primary Annuitant (as defined in the tax law);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made as a series of substantially equal periodic payments (not less frequently than
annually) for the life (or life expectancy) of the Owner or the joint lives (or joint
life expectancies) of the Owner and a &#147;designated beneficiary&#148; (as defined in the tax
law);*</TD>
</TR>


</TABLE>
</DIV>
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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made under a contract purchased with a single premium when the maturity date is no
later than a year from purchase of the contract and substantially equal periodic
payments are made, not less frequently than annually, during the annuity period; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made with respect to certain annuities issued in connection with structured
settlement agreements.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 0pt"><DIV style="margin-left:15px; text-indent:-15px">*&nbsp;&nbsp;You may be subject to a retroactive application of the penalty tax, plus interest, if you begin
taking a series of substantially equal periodic payments (Life Expectancy Distribution) and then
modify the payment pattern (other than by reason of death or disability) before the <B>later </B>of your
turning age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT> and the passage of five years after the date of the first payment.
</DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Aggregation of Contracts. </B>In certain circumstances, the IRS may determine the amount of an annuity
payment or a withdrawal from a contract that is includible in income by combining some or all of
the annuity contracts owned by an individual which are not issued in connection with a Qualified
Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For example, if you purchase two or more deferred annuity contracts from the same insurance company
(or its affiliates) during any calendar year, all such contracts will be treated as one contract
for purposes of determining whether any payment not received as an annuity (including withdrawals
prior to the Maturity Date) is includible in income. Thus, if during a calendar year you buy two or
more of the Contracts offered by this prospectus (which might be done, for example, in order to
invest amounts in different Guarantee Periods), all of such Contracts would be treated as one
Contract in determining whether withdrawals from any of such
 Contracts are includible in income. The IRS may also require aggregation in other circumstances
and you should consult a qualified tax advisor if you own or intend to purchase more than one
annuity contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The effects of such aggregation are not always clear and depend on the circumstances. However,
aggregation could affect the amount of a withdrawal that is taxable and the amount that might be
subject to the 10% penalty tax described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Exchanges of Annuity Contracts. </B>We may issue the Contract in exchange for all or part of
another annuity contract that you own. Such an exchange will be tax free under Code section 1035 if
certain requirements are satisfied. If you exchange all of another annuity contract and the
exchange is tax free, your investment in the Contract immediately after the exchange will generally
be the same as that of the annuity contract exchanged, increased by any additional Purchase Payment
made as part of the exchange. Your Account Value immediately after the exchange may exceed your
investment in the Contract. That excess may be includable in income should amounts subsequently be
withdrawn or distributed from the Contract (e.g., as a partial withdrawal, total withdrawal,
annuity payment or death benefit).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The tax rules applicable to the partial exchange of an annuity contract have been amended for
partial exchanges that occur after October&nbsp;23, 2011. If you exchange part of an existing contract
after that date, and within 180&nbsp;days of the exchange you receive a payment (e.g., you make a
withdrawal) from <U>either</U> contract, all or a portion of the amount received could be
includible in your income and also subject to a 10% penalty tax. The IRS has announced that it will
apply general tax principles to determine the consequences of receiving such a payment. For
example, the IRS could treat the payment as taxable only to the extent of the gain in the
particular contract from which the payment was received. Alternatively, the IRS could determine
that the payment was an integrated part of the exchange. In that case, the payment would be taxable
to the extent of all the gain accumulated in the original contract at the time of the partial
exchange, regardless of whether the payment came from the existing contract or from the Contract
received in exchange. Application of general tax principles is dependent on the facts and
circumstances of each case. However, amounts received as an annuity during the 180-day period are
not subject to the new rules, provided that the annuity payments will be made for a period of at
least 10&nbsp;years or for a life or joint lives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Example: A contract has $100,000 of Account Value, of which $56,000 is gain and $44,000 is the
Owner&#146;s cost basis. The Owner does a partial exchange of 25% of the Account Value. Of the $25,000
transferred to the new contract, $14,000 represents gain and $11,000 represents cost basis
transferred from the original contract. Two months after the partial exchange, the Owner takes a
withdrawal from the new contract in the amount of $17,000. If the IRS treats the withdrawal as a
distribution from the new contract, only $14,000 will be taxable as a distribution of income
($25,000 of Account Value &#151; $11,000 of cost basis in the new contract). If instead the IRS
determines that the withdrawal is part of the exchange, the entire $17,000 is taxable as income
because there was $56,000 of gain in the original contract at the time of the exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You should consult your tax advisor in connection with any exchange pursuant to section 1035 of the
Code for the Contract, particularly if you plan to make a withdrawal from either contract after the
exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Loss of Interest Deduction Where Contracts are Held by or for the Benefit of Certain
Non-Natural Persons. </B>In the case of contracts issued after June&nbsp;8, 1997 to a non-natural taxpayer
(such as a corporation or a trust), or held for the benefit of such an entity, a portion of
otherwise deductible interest may not be deductible by the entity, regardless of whether the
interest relates to debt used to
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">purchase or carry the contract. However, this interest deduction
disallowance does not affect contracts where the income on such contracts is treated as ordinary
income that is received or accrued by the Owner during the taxable year. Entities that are
considering purchasing the Contract, or entities that will be beneficiaries under a Contract,
should consult a tax advisor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Health Care and Education Reconciliation Act of 2010</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On March&nbsp;30, 2010, President Barack Obama signed the Health Care and Education Reconciliation Act
of 2010 (the &#147;Act&#148;) into law. The Act contains provisions for a new Medicare tax to be imposed at a
maximum rate of 3.8% in taxable years beginning in 2013. The tax will be imposed on an amount equal
to the lesser of (a) &#147;net investment income&#148; or (b)&nbsp;the excess of the taxpayer&#146;s modified adjusted
gross income over a specified income threshold ($250,000 for married couples filing jointly,
$125,000 for married couples filing separately, and $200,000 for everyone else). &#147;Net investment
income,&#148; for these purposes, includes the excess (if any) of gross income from annuities, interest,
dividends, royalties and rents, and certain net gain, over allowable deductions,
as such terms are defined in the Act or as may be defined in future Treasury Regulations or IRS
guidance. The term &#147;net investment income&#148; does not include any distribution from a plan or
arrangement described in Code sections 401(a), 403(a), 403(b), 408 (i.e., IRAs), 408A (i.e., Roth
IRAs) or 457(b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You should consult a qualified tax advisor for further information about the impact of the Act on
your individual circumstances.
</DIV>

<DIV align="left">
<A name="154"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Puerto Rico Nonqualified Contracts</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>If you are a resident of Puerto Rico, you should consult a qualified tax advisor before
purchasing an annuity contract. </B>Distributions from Puerto Rico annuity contracts issued by us are
subject to federal income taxation, withholding and reporting requirements as well as Puerto Rico
tax laws. Both jurisdictions impose a tax on distributions. Under federal requirements,
distributions are deemed to be income first. Under the Puerto Rico tax laws, however, distributions
from a Contract not purchased to fund a Qualified Plan (&#147;Nonqualified Contract&#148;) are generally
treated as a nontaxable return of principal until the principal is fully recovered. Thereafter, all
distributions under a Nonqualified Contact are fully taxable. Puerto Rico does not currently impose
an early withdrawal penalty tax. The Code, however, does impose such a penalty and bases it on the
amount that is taxable under federal rules.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Distributions under a Nonqualified Contract after annuitization are treated as part taxable income
and part nontaxable return of principal. After annuitization, the annual amount excluded from gross
income under Puerto Rico tax law is equal to the amount of the distribution in excess of 3% of the
total Purchase Payments paid, until an amount equal to the total Purchase Payments paid has been
excluded. Thereafter, the entire distribution from a Nonqualified Contract is included in gross
income. For federal income tax purposes, however, the portion of each annuity payment that is
subject to tax is computed on the basis of investment in the Contract and the Annuitant&#146;s life
expectancy. Generally Puerto Rico does not require income tax to be withheld from distributions of
income from annuity contracts. Although Puerto Rico allows a credit against its income tax for
taxes paid to the federal government, you may not be able to use the credit fully.
</DIV>

<DIV align="left">
<A name="155"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Qualified Retirement Plans</B>
</DIV>

<DIV align="left">
<A name="156"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>In General</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Contracts are also designed for use in connection with certain types of qualified
retirement plans which receive favorable treatment under the Code. Numerous special tax rules apply
to participants in such Qualified Plans and to Contracts used in connection with such Qualified
Plans. In this prospectus we provide only general information about the use of the Contract with
the various types of Qualified Plans. Persons intending to use the Contract in connection with a
Qualified Plan should seek competent advice. <I>We may limit the availability of the Contracts to
certain types of Qualified Plans and may discontinue making Contracts available to any Qualified
Plan in the future</I>. <I>If you intend to use a Contract in connection with a Qualified Plan you should
consult a qualified tax advisor.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The tax rules applicable to Qualified Plans vary according to the type of plan and the terms and
conditions of the plan itself. For example, for both withdrawals and annuity payments under certain
Qualified Contracts, there may be no &#147;investment in the contract&#148; and the total amount received may
be taxable. Both the amount of the contribution that may be made, and the tax deduction or
exclusion that you may claim for such contribution, are limited under Qualified Plans. If you are
considering purchasing a Contract for use in connection with a qualified retirement plan, you
should consider, in evaluating the suitability of the Contract, that the Contract allows only a
single Purchase Payment in an amount of at least $5,000. Under the tax rules, the Owner and
Annuitant may not be different individuals, if this Contract is used in connection with a Qualified
Plan. If a co-Annuitant is named, all distributions made while the Annuitant is alive must be made
to the Annuitant. Also, if a co-Annuitant is named who is not the Annuitant&#146;s spouse, the Annuity
Options which are available may be
limited, depending on the difference in ages between the Annuitant and co-Annuitant. Furthermore,
the length of any Guarantee Period may be limited in some circumstances to satisfy certain minimum
distribution requirements under the Code.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Additionally, for Contracts issued in connection with Qualified Plans subject to the Employee
Retirement Income Security Act, the spouse or ex-spouse of the Owner will have rights in the
Contract. In such a case, the Owner may need the consent of the spouse or ex-spouse to change
Annuity Options or make a withdrawal from the Contract.
</DIV>

<DIV align="left">
<A name="157"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Required Minimum Distributions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Treasury Department regulations prescribe required minimum distribution (&#147;RMD&#148;) rules
governing the time at which distributions to the Owner and beneficiaries must commence and the form
in which the distributions must be paid. These special rules may also require the length of any
Guarantee Period to be limited. They also affect the restrictions that the Owner may impose on the
timing and manner of payment of death benefits to beneficiaries or the period of time over which a
Beneficiary may extend payment of the death benefits under the Contract. In addition, the presence
of the death benefit or a benefit provided under an optional rider may affect the amount of the
required minimum distributions that must be made under the Contract. Failure to comply with RMD
requirements will result in the imposition of an excise tax, generally 50% of the amount by which
the amount required to be distributed exceeds the actual distribution. In the case of IRAs (other
than Roth IRAs), distributions of minimum amounts (as specified in the tax law) to the Owner must
generally commence by April 1 of the calendar year following the calendar year in which the Owner
turns age 70<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>. In the case of certain other Qualified Plans, such distributions of such minimum
amounts must generally commence by the later of this date or April 1 of the calendar year following
the calendar year in which the employee retires from the employer who sponsored the Qualified Plan.
Distributions made under certain Qualified Plans, including IRAs and Roth IRAs, after the Owner&#146;s
death must also comply with RMD requirements, and different rules governing the timing and the
manner of payments apply, depending on whether the designated Beneficiary is an individual and, if
so, the Owner&#146;s spouse, or an individual other than the Owner&#146;s spouse. If you wish to impose
restrictions on the timing and manner of payment of death benefits to your designated beneficiaries
or if your Beneficiary wishes to extend over a period of time the payment of the death benefits
under your Contract, please consult your own qualified tax advisor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Penalty Tax on Premature Distributions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There is also a 10% penalty tax on the taxable amount of any payment from certain Qualified
Contracts. (The amount of the penalty tax is 25% of the taxable amount of any payment received from
a &#147;SIMPLE retirement account&#148; during the 2-year period beginning on the date the individual first
participated in any qualified salary reduction agreement (as defined in the tax law) maintained by
the individual&#146;s employer.) There are exceptions to this penalty tax which vary depending on the
type of Qualified Plan. In the case of an IRA, including a &#147;SIMPLE IRA,&#148; exceptions provide that
the penalty tax does not apply to a payment (a)&nbsp;received on or after the date on which the Owner
reaches age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>, (b)&nbsp;received on or after the Owner&#146;s death or because of the Owner&#146;s disability
(as defined in the tax law), or (c)&nbsp;made as a series of substantially equal periodic payments (not
less frequently than annually) for the life (or life expectancy) of the Owner or for the joint
lives (or joint life expectancies) of the Owner and designated beneficiary (as defined in the tax
law). (You may be subject to a retroactive application of the penalty tax, plus interest, if you
begin taking a series of substantially equal periodic payments and then modify the payment pattern
(other than by reason of death or disability) before the later of your turning age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT> or the
passage of five years after the date of the first payment.). These exceptions, as well as certain
others not described herein, generally apply to taxable distributions from other Qualified Plans
(although, in the case of plans qualified under sections 401 and 403, exception &#147;c&#148; above for
substantially equal periodic payments applies only if the Owner has separated from service). In
addition, the penalty tax does not apply to certain distributions from IRAs taken after December
31, 1997 which are used for
qualified first time home purchases or for higher education expenses. Special conditions must be
met to qualify for these two exceptions to the penalty tax. If you wish to take a distribution from
an IRA for these purposes, you should consult your own qualified tax advisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When issued in connection with a Qualified Plan, a Contract will be amended as generally necessary
to conform to the requirements of the plan. However, Owners, Annuitants, and Beneficiaries are
cautioned that the rights of any person to any benefits under Qualified Plans may be subject to the
terms and conditions of the plans themselves, regardless of the terms and conditions of the
Contract. In addition, we will not be bound by terms and conditions of Qualified Plans to the
extent such terms and conditions contradict the Contract, unless we consent.
</DIV>

<DIV align="left">
<A name="158"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Qualified Plan Types</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Following are brief descriptions of various types of Qualified Plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Individual Retirement Annuities. </B>Section&nbsp;408 of the Code permits eligible individuals to contribute
to an individual retirement program known as an IRA. IRAs are subject to limits on the amounts that
may be contributed and deducted, the persons who may be eligible and on the time when distributions
may commence. Also, distributions from certain qualified plans may be &#147;rolled over&#148; on a
tax-deferred basis into an IRA. The Contract may not be used in connection with an &#147;Education IRA&#148;
under section 530 of the Code.
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Simplified Employee Pensions (SEP-IRAs). </B>Section&nbsp;408(k) of the Code allows employers to establish
simplified employee pension plans for their employees, using the employees&#146; IRAs for such purposes,
if certain criteria are met. Under these plans the employer may, within specified limits, make
deductible contributions on behalf of the employees to IRAs. Employers intending to use the
Contract in connection with such plans should seek competent advice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SIMPLE IRAs. </B>Section&nbsp;408(p) of the Code permits certain small employers to establish &#147;SIMPLE
retirement accounts,&#148; including SIMPLE IRAs, for their employees. Under SIMPLE IRAs, certain
deductible contributions are made by both employees and employers. SIMPLE IRAs are subject to
various requirements, including limits on the amounts that may be contributed, the persons who may
be eligible, and the time when distributions may commence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Roth IRAs. </B>Section&nbsp;408A of the Code permits eligible individuals to contribute to a type of IRA
known as a &#147;Roth IRA.&#148; Roth IRAs are generally subject to the same rules as non-Roth IRAs, but
differ in certain respects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Among the differences are that contributions to a Roth IRA are not deductible and &#147;qualified
distributions&#148; from a Roth IRA are excluded from income. A qualified distribution is a distribution
that satisfies two requirements. First, the distribution must be made in a taxable year that is at
least five years after the first taxable year for which a contribution to any Roth IRA established
for the Owner was made. Second, the distribution must be:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made after the Owner reaches age 59<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made after the Owner&#146;s death;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attributable to the Owner being disabled; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a qualified first-time homebuyer distribution within the meaning of section
72(t)(2)(F) of the Code.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, distributions from Roth IRAs need not commence when the owner reaches age 70<FONT style="FONT-size: 70%"><SUP>1</SUP></FONT>/<FONT style="FONT-size: 60%">2</FONT>. A Roth
IRA may accept a &#147;qualified rollover contribution&#148; from a non-Roth IRA and from an &#147;eligible
retirement plan&#148; that satisfies certain requirements specified in section 408A(e)(1)(B) of the
Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Corporate and Self-Employed (&#147;H.R. 10&#148; and &#147;Keogh&#148;) Pension and Profit-Sharing Plans. </B>Sections
401(a) and 403(a) of the Code permit corporate employers to establish various types of tax-favored
retirement plans for employees. The Self-Employed Individuals&#146; Tax Retirement Act of 1962, as
amended, commonly referred to as &#147;H.R. 10&#148; or &#147;Keogh,&#148; permits self-employed individuals also to
establish such tax-favored retirement plans for themselves and their employees. Such retirement
plans may permit the purchase of the Contract in order to provide benefits under the plans.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax-Sheltered Annuities. </B>Section&nbsp;403(b) of the Code permits public school employees and employees
of certain types of charitable, educational and scientific organizations specified in section
501(c)(3) of the Code to have their employers purchase annuity contracts for them and, subject to
certain limitations, to exclude the amount of purchase payments from gross income for tax purposes.
These annuity contracts are commonly referred to as &#147;tax-sheltered annuities.&#148; This Contract is
not available as a section 403(b) annuity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Rollovers and Transfers</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>If permitted under your plan</I>, you may make a distribution:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from a traditional IRA and make a &#147;tax-free&#148; rollover to another traditional
IRA;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from a traditional IRA and make a &#147;tax-free&#148; rollover to a retirement plan qualified
under Sections&nbsp;401(a), 403(a), or 403(b) of the Code or a governmental deferred
compensation plan described in Section 457(b) of the Code;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from any Qualified Plan (other than a Section&nbsp;457 deferred compensation plan
maintained by a tax-exempt organization) and make a &#147;tax-free&#148; rollover to a traditional
IRA; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>from a retirement plan qualified under Sections&nbsp;401(a), 403(a), or 403(b) of the Code
or a governmental deferred compensation plan described in Section 457(b) of the Code and
make a &#147;tax-free&#148; rollover to any such plans.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, if your spouse survives you, he or she is permitted to take a distribution from
your tax-qualified retirement account and make a &#147;tax-free&#148; rollover to another tax-qualified
retirement account in which your surviving spouse participates, to the extent permitted by your
surviving spouse&#146;s plan. A Beneficiary who is not your surviving spouse, if permitted by the plan,
may make a direct transfer to a traditional IRA of the amount otherwise distributable to him or her
upon your death under a Contract that is held as part of a retirement plan described in Sections
401(a) or 403(a) of the Code or a governmental deferred compensation plan described in Section
457(b) of the Code.. The IRA is treated as an inherited IRA of the non-spouse Beneficiary. A
beneficiary who is not your spouse may make a direct transfer to an inherited IRA of the amount
otherwise distributable to him or her under a Contract which is a traditional IRA.
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You may also make a taxable rollover from a traditional IRA to a Roth IRA. In addition,
distributions that you receive from a retirement plan described in Sections&nbsp;401(a), 403(a), or
403(b) of the Code or a governmental deferred compensation plan described in Section 457(b) of the
Code may be rolled over directly to a Roth IRA. This type of rollover is taxable. You may make a
&#147;tax-free rollover&#148; to a Roth IRA from a Roth IRA or from a Roth account in a retirement plan
described in Section 401(a) or Section 403(b) of the Code or a governmental deferred compensation
plan described in section 457 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In lieu of taking a distribution from your plan (including a Section&nbsp;457 deferred compensation plan
maintained by a tax-exempt organization), your plan may permit you to make a direct trustee-to
trustee transfer of plan assets.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Withholding on Rollover Distributions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Eligible rollover distributions from a retirement plan that is qualified under section 401(a),
403(a), or 403(b) of the Code, or a governmental deferred compensation plan described in section
457(b) of the Code are subject to mandatory withholding. An eligible rollover distribution
generally is any taxable distribution from such plans except (i)&nbsp;minimum distributions required
under section 401(a)(9) of the Code, (ii)&nbsp;certain distributions for life, life expectancy, or for
10&nbsp;years or more which are part of a &#147;series of substantially equal periodic payments,&#148; and (iii)
if applicable, certain hardship withdrawals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under these requirements, withholding at a rate of 20% will be imposed on any eligible rollover
distribution. In addition, the payee cannot elect out of withholding with respect to an eligible
rollover distribution. However, this 20% withholding will not apply if, instead of receiving the
eligible rollover distribution, the payee elects to have amounts directly transferred to certain
qualified retirement plans (such as to an IRA). Before we make an eligible rollover distribution, a
notice will be provided explaining generally the direct rollover and mandatory withholding
requirements and how to avoid the 20% withholding by electing a direct rollover.
</DIV>
<DIV align="left">
<A name="159"></A>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Federal Income Tax Withholding</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will withhold and remit to the U.S. government a part of the taxable portion of each
distribution made under a Contract unless (i)&nbsp;the distribution is not an eligible rollover
distribution and (ii)&nbsp;the distributee notifies us at or before the time of the distribution that he
or she elects not to have any amounts withheld. In certain circumstances, we may be required to
withhold tax. Except in the case of eligible rollover distributions, the withholding rates
applicable to the taxable portion of periodic annuity payments are the same as the withholding
rates generally applicable to payments of wages. Except in the case of eligible rollover
distributions, the withholding rate applicable to the taxable portion of non-periodic payments
(including withdrawals prior to the maturity date) is 10%. As described above, the withholding rate
applicable to eligible rollover distributions is 20%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We treat any amount we withhold as a withdrawal from your Contract.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Conversions and Rollovers to Roth IRAs</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You can convert a traditional IRA to a Roth IRA or directly roll over distributions that you
receive from a retirement plan described in sections 401(a), 403(a), or 403(b) of the Code or a
governmental deferred compensation plan described in section 457(b) of the Code to a Roth IRA. The
Roth IRA annual contribution limit does not apply to converted or rollover amounts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You must, however, pay tax on any portion of the converted or rollover amount that would have been
taxed if you had not converted or rolled over to a Roth IRA. No similar limitations apply to
rollovers to one Roth IRA from another Roth IRA or from a Roth account in a retirement plan
described in section 401(a) or section 403(b) of the Code. Please note that the amount deemed to be
the &#147;converted amount&#148; for tax purposes may be higher than the Account Value because of the deemed
value of guarantees.
</DIV><p>

<DIV style="width: 99%; border: 1px solid black; padding: 5px;">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you convert a Contract issued as a traditional IRA (or other type of Qualified Contract, if
permitted under your plan) to a Roth IRA, or instruct us to transfer a rollover amount from a
Qualified Contract to a Roth IRA, you may instruct us to not withhold any of the conversion for
taxes and remittance to the IRS. A direct rollover or conversion is not subject to mandatory tax
withholding, even if the distribution is includible in gross income. If you do instruct us to
withhold for taxes when converting an existing Contract to a Roth IRA, we will treat any amount we
withhold as a withdrawal from your Contract.
</DIV>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under current tax rules, effective January&nbsp;1, 2010, there is no restriction based on your adjusted
gross income for converting traditional IRAs and other qualified retirement accounts to a Roth IRA.
Accordingly, taxpayers with more than $100,000 of adjusted gross income may now convert such assets
without an early distribution penalty at the time of the conversion. However, the early
distribution penalty may still apply if amounts converted to a Roth IRA are distributed within the
5-taxable year period beginning in the year the conversion is made. Generally, the amount converted
to a Roth IRA is included in ordinary income for the year in which the account was converted. Given
the potential for taxation of Roth IRA conversions and early distribution penalties, you should
consider the resources that you have available, other than your retirement plan assets, for paying
any taxes that would become due the year of any such conversion or a subsequent year. You should
seek independent qualified tax advice if you intend to use the Contract in connection with a Roth
IRA.
</DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="160"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Puerto Rico Contracts Issued to Fund Retirement Plans</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The tax laws of Puerto Rico vary significantly from the provisions of the Internal Revenue
Code of the United States that are applicable to various Qualified Plans. With regard to Qualified
Plans, although we may offer annuity contracts in Puerto Rico in connection with Puerto Rican &#147;tax
qualified&#148; retirement plans, the text of this prospectus addresses federal tax law only and is
inapplicable to the tax laws of Puerto Rico.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Designated Roth Accounts within Qualified Plans</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Small Business Jobs Act of 2010 authorizes: (1)&nbsp;participants in 457(b) plans to contribute
deferred amounts to designated Roth accounts within their 457(b) plan; and (2)&nbsp;participants in
401(k), 403(b) and certain other plans to roll over qualified distributions into a designated Roth
account within their plans, <I>if allowed by their plans</I>. The Contract, however, was not designed to
separately account for any Account Value in a single Contract that is split between Roth and
non-Roth accounts, <I>even if your 401(k) Plan or 457 Plan allows you to split your account. </I>If your
plan allows it, and you split your Account Value into Roth and non-Roth accounts, you or your plan
administrator (in the case of 401(k) Plans) will be responsible for the accounting of your Account
Value for tax purposes: calculating withholding, income tax reporting, and verifying the form and
amount of any RMD distributions. We are not responsible for the calculations of any service
provider that you may use to split Account Value between Roth and non-Roth accounts. We will deny
any request that would create such a split.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>See Your Own Tax Advisor</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The foregoing description of federal income tax topics and issues is only a brief summary and is
not intended as tax advice. It does not include a discussion of federal estate and gift tax or
state tax consequences. The rules under the Code governing Qualified Plans are extremely complex
and often difficult to understand. Changes to the tax laws may be enforced retroactively. Anything
less than full compliance with the applicable rules, all of which are subject to change from time
to time, can have adverse tax consequences. The taxation of an owner or other payee has become so
complex and confusing that great care must be taken to avoid pitfalls. For further information you
should always consult a qualified tax advisor.
</DIV>



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<DIV align="left">
<A name="161"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">VIII. General Matters
</DIV>

<DIV align="left">
<A name="162"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Confirmation Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will send you confirmation statements for certain transactions in your account. You should
carefully review these statements to verify their accuracy and should immediately report any
mistake to our Annuities Service Center. If you fail to notify our Annuities Service Center of any
mistake within 60&nbsp;days of the mailing of the confirmation statement, you will be deemed to have
ratified the transaction.
</DIV>

<DIV align="left">
<A name="163"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Legal Proceedings</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are no material pending legal proceedings, other than ordinary routine litigation, to
which John Hancock USA or any of our subsidiaries is a party or to which any of our or their
property is subject. To the best of our knowledge, no such proceedings are contemplated by any
governmental authority or any other party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For a description of legal proceedings to which MFC is a party, see &#147;Legal Proceedings&#148; in MFC&#146;s
Annual Information Form within MFC&#146;s Annual Report on Form 40-F/A for the year ended December&nbsp;31,
2010, as filed on March&nbsp;25, 2011 and &#147;Legal Proceedings Update&#148; in MFC&#146;s Third Quarter Report to
Shareholders, as filed on Form 6-K on November&nbsp;10, 2011, each of which is incorporated by reference
in this prospectus and in the registration statement of which this prospectus forms a part.
</DIV>

<DIV align="left">
<A name="164"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Legal Opinions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The validity of the Market Value Adjustment Interests under deferred annuity contracts and the
MFC Subordinated Guarantee offered in this prospectus will be passed upon for us by Arnold R.
Bergman, Esq., Vice President and Annuities Chief Counsel, John Hancock USA. Certain matters
regarding Canadian law with respect to the MFC Subordinated Guarantee will be passed upon for MFC
by Torys LLP, Toronto, Canada. On the date of this prospectus, the partners and associates of Torys
LLP own an aggregate of approximately 15,000 MFC common shares.
</DIV>

<DIV align="left">
<A name="165"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Experts</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The consolidated financial statements of MFC as at December&nbsp;31, 2010 and 2009, and for the
years then ended, included in MFC&#146;s Annual Report on Form 40-F for the year ended December&nbsp;31,
2010, filed with the SEC on March&nbsp;18, 2011, and the amended consolidated financial statements of
MFC as at December&nbsp;31, 2009 and 2008, and for the years then ended, included in MFC&#146;s Annual Report
on Form 40-F, filed with the SEC on March&nbsp;19, 2010, which are incorporated by reference in this
prospectus and in the registration statement of which this prospectus forms a part, have been
audited by Ernst &#038; Young LLP, Toronto, Canada, an independent registered public accounting firm, as
set forth in their reports thereon, included and incorporated herein and therein by reference. Such
consolidated financial statements are incorporated herein by reference in reliance upon such
reports given on the authority of such firm as experts in accounting and auditing.
</DIV>

<DIV align="left">
<A name="166"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Notices and Reports to Contract Owners</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At least once each Contract Year, we will send you a statement showing the Account Value of
the Contract as of the date of the statement. The statement will also show Purchase Payments and
any other information required by any applicable law or regulation.
</DIV>

<DIV align="left">
<A name="167"></A>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Contract Owner Inquiries</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You should direct all inquiries to our Annuities Service Center at 164 Corporate Drive,
Portsmouth, New Hampshire 03801.
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="168"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;A: Example of Market Value Adjustment Calculation
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We determine the amount of the Market Value Adjustment by multiplying the amount being taken
from the Guarantee Period (in excess of the Free Withdrawal Amount and before any applicable
withdrawal charge) by a factor expressed by the following formula:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b89822a1b8982204.gif" alt="(CALCULATION)">
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: -18pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;where:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>i</I></B> =
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the guaranteed rate in effect for the current Guarantee Period (expressed as a
decimal).</TD>
</TR>
<tr style="font-size: 3pt"><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>j</I></B> =
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the current rate (expressed as a decimal) in effect for durations equal to the
time remaining in the current Guarantee Period. If the time remaining in the Guarantee
Period is not a whole number of years, then the rate will be interpolated, based upon
the number of months remaining, between the current rates offered from the closest
durations. If not available, we will declare a rate solely for this purpose that is
consistent with rates for durations that are currently available.</TD>
</TR>
<tr style="font-size: 3pt"><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B><I>k</I></B> =
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the adjustment factor. This is designed to compensate us for certain expenses
and losses that we may incur, either directly or indirectly, as a result of withdrawal
or annuitization. Thus, even if the issued <I>i </I>rate and the withdrawal <I>j </I>rate are equal,
the adjustment factor &#145;k&#146; will cause the Market Value Adjustment to be negative. This
factor effectively reduces the amount paid and functions as an additional withdrawal
charge.</TD>
</TR>
<tr style="font-size: 3pt"><td>&nbsp;</td></tr>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap><B><I>n =</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the number of months from the date of withdrawal to the end of the current
Guarantee Period. In the case of partial months, &#145;n&#146; is rounded up to the next month.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sample Calculation 1: Negative Adjustment</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Withdrawal Amount (Amount Requested)
Net of Free Amount</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$10,000</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guarantee Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">7 years</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Time of withdrawal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Beginning of 3<SUP style="FONT-size: 85%; vertical-align: text-top">rd</SUP> year of Guarantee Period</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed rate (<B><I>i</I></B>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">4.00%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed rate for new 5&nbsp;year guarantee (<B><I>j</I></B>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">5.00%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor (<B><I>k</I></B>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">0.25%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Remaining Guarantee Period (<B><I>n</I></B>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">60 months</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Market Value Adjustment:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b89822a1b8982205.gif" alt="(CALCULATION)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b89822a1b8982206.gif" alt="(CALCULATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net Amount delivered before application of surrender charges (requested amount adjusted for Market
Value Adjustment):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10,000
$579.89 = $9,420.11
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->A-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Sample Calculation 2: Positive Adjustment</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Withdrawal Amount (Amount Requested)
Net of Free Amount</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$10,000</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guarantee Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">7 years</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Time of withdrawal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Beginning of 3<SUP style="FONT-size: 85%; vertical-align: text-top">rd</SUP> year of Guarantee Period</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed rate (<I>I</I>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">4.00%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Guaranteed rate for new 5&nbsp;year guarantee (<I>J</I>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">3.00%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustment factor (<I>K</I>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">0.25%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Remaining Guarantee Period (<I>N</I>)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">60 months</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Market Value Adjustment:
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b89822a1b8982207.gif" alt="(CALCULATION)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b89822a1b8982208.gif" alt="(CALCULATION)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net Amount delivered (requested amount adjusted for Market Value Adjustment):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10,000 &#043; $368.51 = $10,368.51
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Please note, all interest rates shown have been arbitrarily chosen for purposes of these examples.
In most cases they will bear little or no relation to the rates we are actually guaranteeing at any
time.</I>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->A-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="169"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;B: Withdrawal Charge Schedule<BR>
<B>SERIES A</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APPLICABLE TO ACCOUNT VALUE DURING THE INITIAL GUARANTEE PERIOD:</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">CONTRACT/CERTIFICATE YEAR AT TIME OF WITHDRAWAL
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">GUARANTEE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">PERIOD</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">9</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">10</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APPLICABLE TO ACCOUNT VALUE DURING ANY SUBSEQUENT GUARANTEE PERIOD:</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NUMBER OF COMPLETE YEARS SINCE THE COMMENCEMENT OF ANY SUBSEQUENT<BR>
GUARANTEE PERIOD AT THE TIME OF WITHDRAWAL
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">GUARANTEE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">PERIOD</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">0</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">9</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SERIES B</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APPLICABLE TO ACCOUNT VALUE DURING THE INITIAL GUARANTEE PERIOD:</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">CONTRACT/CERTIFICATE YEAR AT TIME OF WITHDRAWAL
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">GUARANTEE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">PERIOD</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">9</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">10</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APPLICABLE TO ACCOUNT VALUE DURING ANY SUBSEQUENT GUARANTEE PERIOD:</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">NUMBER OF COMPLETE YEARS SINCE THE COMMENCEMENT OF ANY SUBSEQUENT<BR>
GUARANTEE PERIOD AT THE TIME OF WITHDRAWAL
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">GUARANTEE</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">PERIOD</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">0</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">1</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">2</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">3</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">4</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">5</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">6</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">7</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">8</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">9</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="21" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">1 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">2 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">3 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">4 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">5 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">6 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">7 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">8 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="center"><DIV style="margin-left:30px; text-indent:-15px">9 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;&nbsp;10 Year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">5%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<p>
<DIV style="width: 99%; border: 1px solid black; padding: 5px;">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Withdrawal Charge Schedule applicable during any Subsequent Guarantee
Period does not apply to Contracts issued in Florida on or after January&nbsp;1,
2011 to senior citizens (age 65&nbsp;years or older on the Contract issue date) past
the tenth Contract Anniversary.</B>
</DIV>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left">
<A name="170"></A>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Appendix&nbsp;C: State Premium Taxes
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Premium taxes vary according to the state and are subject to change. In many jurisdictions
there is no tax at all. For current information, a tax advisor should be consulted.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000"><B>TAX RATE</B><SUP style="FONT-size: 85%; vertical-align: text-top"><B>1</B></SUP></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>QUALIFIED</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>NONQUALIFIED</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>STATE</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>CONTRACTS</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>CONTRACTS</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CALIFORNIA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.50%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2.35%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">MAINE</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2.00%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NEVADA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3.50%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PUERTO RICO</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.00%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SOUTH DAKOTA<SUP style="FONT-size: 85%; vertical-align: text-top">2</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.25%<SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">TEXAS<SUP style="FONT-size: 85%; vertical-align: text-top">4</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.04%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.04%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WEST VIRGINIA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.00%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WYOMING</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0.00%</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1.00%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based on the state of residence at the time the tax is assessed.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">2</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Premium tax paid upon receipt of premium (no tax at annuitization if tax paid on
Purchase Payment at issue).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">3</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>0.80% on Purchase Payments in excess of $500,000.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">4</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Referred to as a &#147;maintenance&#148; tax.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->C-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION NOT REQUIRED IN PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Indemnification of Directors and Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Manulife Financial Corporation</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Insurance Companies Act (Canada), a company may not, by contract, resolution or
by-law, limit the liability of its directors for breaches of their fiduciary duties. However, the
company may indemnify a director or officer, a former director or officer or a person who acts or
acted at the company&#146;s request as a director or officer of, or in a similar capacity for another
entity, against all costs, charges and expenses, including an amount paid to settle an action or
satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal,
administrative, investigative or other proceeding in which he or she is involved because of that
association with the company or other entity, if:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;that person acted honestly and in good faith with a view to the best interests of, as the case
may be, the company or the other entity for which he or she acted at the company&#146;s request as a
director or officer or in a similar capacity; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(2)&nbsp;in the case of a criminal or administrative action or proceeding that is enforced by a monetary
penalty, that person had reasonable grounds for believing that his or her conduct was lawful.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These individuals are entitled to indemnity from the company if the person was not judged by
the court or other competent authority to have committed any fault or omitted to do anything he or
she ought to have done and fulfills the conditions set out in (1)&nbsp;and (2)&nbsp;above. A company may,
with the approval of a court, also indemnify that person against all costs, charges and expenses
reasonably incurred by them in connection with an action by or on behalf of the company or other
entity to procure a judgment in its favor, to which the person is made a party by reason of being
or having been a director or officer of the company or entity, if he or she fulfills the conditions
set out in (1)&nbsp;and (2)&nbsp;above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The by-laws of Manulife Financial Corporation (&#147;MFC&#148;) provide that the board of directors of
MFC shall make provisions, by resolution, for the indemnification of directors, officers, employees
and such other persons as the directors shall decide on such terms and conditions as they
establish. MFC&#146;s administrative resolutions provide that MFC shall indemnify a director, officer or
employee, a former director, officer or employee, or a person who acts or acted at MFC&#146;s request as
a director, officer, employee or trustee of another corporation, partnership, joint venture, trust
or other enterprise against any liability and costs arising out of any action or suit against them
from the execution of their duties, subject to the limitations described in the administrative
resolutions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">MFC&#146;s administrative resolutions provide that MFC will have no obligation to indemnify any
person for:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any acts committed with actual dishonest, fraudulent, criminal or malicious
purpose or intent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any act of gross negligence or willful neglect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any claims relating to liabilities of other persons assumed by any person
entitled to indemnification;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any claims relating to enterprises owned, operated, managed or controlled
by any person entitled to indemnification;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any claims relating to pension plans sponsored by any person entitled to
indemnification;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>bodily injury, sickness, disease or death of any person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>injury to or destruction of any tangible property; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any actions which were in breach of compliance with MFC policy.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MFC has also entered into agreements to indemnify its directors and officers. These agreements
indemnify our directors and officers for certain expenses, including, among other things,
attorneys&#146; fees, costs, fines and settlement amounts, reasonably incurred by any such person in any
civil, criminal, administrative or other proceeding related to such person&#146;s services as a director
or officer of MFC, or any other entity to which the person provides services at MFC&#146;s request.
MFC&#146;s obligation to indemnify such persons is subject to similar limitations as those set forth in
MFC&#146;s administrative resolutions described above.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MFC maintains a directors&#146; and officers&#146; liability insurance policy with a policy limit of
U.S.$300,000,000. The policy is renewed annually. The policy provides protection to directors and
officers against liability incurred by them in their capacities as directors and officers of MFC
and its subsidiaries. The policy also provides protection to MFC (of which U.S.$125,000,000 is
available to MFC) for claims made against directors and officers for which MFC has granted
directors and officers indemnity, as required or permitted under applicable law and for securities
claims made against MFC, in each case subject to a deductible of U.S.$25,000,000 per claim.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>John Hancock Life Insurance Company (U.S.A.)</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Article&nbsp;XII of the Restated Articles of Redomestication of John Hancock Life
Insurance Company (U.S.A.) (&#147;John Hancock (U.S.A.)&#148;) and Sections&nbsp;5241 through 5242 of the Michigan
Insurance Code, John Hancock (U.S.A.) indemnifies each person who is or was or has agreed to become
a director of John Hancock (U.S.A), or is or was serving at the request of John Hancock (U.S.A.) as
a director of another foreign or domestic corporation, joint venture, trust or other enterprise,
whether for profit or not, from liability incurred or imposed by reason of any action alleged to
have been taken or omitted in such capacity. Indemnification shall be made by John Hancock
(U.S.A.), unless a determination is made that the individual (i)&nbsp;breached his or her duty of
loyalty to John Hancock (U.S.A.) or its shareholders, (ii)&nbsp;failed to act in good faith and in a
manner in which the individual reasonably believed to be in or not opposed to the best interests of
John Hancock (U.S.A.), (iii)&nbsp;engaged in an intentional misconduct or knowing violation of law, (iv)
violated Sections&nbsp;5036, 5276 or 5280 of the Michigan Insurance Code, or (v)&nbsp;engaged in a
transaction in which the individual derived an improper personal benefit, and, with respect to any
criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful;
provided that, to the extent that a present or former director of John Hancock (U.S.A.) has been
successful on the merits or otherwise in any defense of any proceeding, or in defense of any claim,
issue or matter therein, such person shall be indemnified against expenses (including attorneys&#146;
fees) actually and reasonably incurred by such person in connection therewith. Expenses (including
attorneys&#146; fees) incurred in defending any proceeding may be paid by John Hancock (U.S.A.) in
advance of its final disposition, but only upon receipt of an undertaking by the person indemnified
to repay such amounts if he or she should be determined not to be entitled to indemnification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As stated above, MFC maintains a directors&#146; and officers&#146; liability insurance policy with a
policy limit of U.S.$300,000,000. The policy provides protection to directors and officers against
liability incurred by them in their capacities as directors and officers of MFC and its
subsidiaries, including John Hancock (U.S.A.).
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 9. EXHIBITS.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed herewith or incorporated herein by reference:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Distribution and Servicing Agreement dated February&nbsp;17,
2009 by and among John Hancock Distributors, LLC,
Manulife Financial Securities, LLC, and John Hancock
Life Insurance Company (U.S.A.) &#151; Incorporated by
reference to Exhibit (b)(3)(ii) to Form&nbsp;N-4, file number
333-143073, filed April&nbsp;1, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(i)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Contract &#151; 09MVA ed. EJ &#151; Incorporated by
reference to Exhibit&nbsp;4(a)(i) on Form&nbsp;F-3/A, file numbers
333-159101 and 333-159101-01, filed on July&nbsp;16, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(ii)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Group
Deferred Annuity Certificate &#151; 09MVAGRP &#151; Incorporated
by reference to Exhibit&nbsp;4(a)(ii) on Form&nbsp;F-3/A, file
numbers 333-159101 and 333-159101-01, filed on July&nbsp;16,
2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(iii)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Individual Contract &#151; Specimen Single Payment Modified
Guaranteed Deferred Annuity Contract &#151; Individual &#151;
10MVA-CPI-1.1 <B>- </B>Incorporated by reference to Exhibit&nbsp;99.1
on Form&nbsp;6-K, file number 001-14942, filed on July&nbsp;25,
2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(iv)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Individual Specifications Page &#151; Specimen Single Payment
Modified Guaranteed Deferred Annuity Contract
Specifications Page &#151; Individual &#151; SPEC-CPI10.2 <B>-</B>
Incorporated by reference to Exhibit&nbsp;99.2 on Form&nbsp;6-K,
file number 001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(v)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Certificate &#151; 10MVAGRP-CPI.1 &#151; Incorporated by
reference to Exhibit&nbsp;99.3 on Form&nbsp;6-K, file number
001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(a)(vi)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Contract Specifications Page - Group &#151;
SPEC-CPI10-1.2 <B>- </B>Incorporated by reference to Exhibit
99.4 on Form&nbsp;6-K, file number 001-14942, filed on July
25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(i)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Application &#151; 156-MVA-09 &#151; Incorporated by
reference to Exhibit&nbsp;4(b)(i) on Form&nbsp;F-3/A, file numbers
333-159101 and 333-159101-01, filed on July&nbsp;16, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(ii)(A)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Group
Deferred Annuity Contract and Application &#151; 09 GRPMAST
&#151; Incorporated by reference to Exhibit&nbsp;4(b)(ii) on Form
F-3, file numbers 333-159101 and 333-159101-01, filed on
May&nbsp;8, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(ii)(B)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen &#091;JH Choice&#093; Individual Single Payment Modified
Guaranteed Deferred Annuity Application&#151; ICC10MVAAPP &#151;
Incorporated by reference to Exhibit&nbsp;99.5 on Form&nbsp;6-K,
file number 001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(ii)(C)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Contract &#151; Group &#151; 09GRPMAST&#151; Incorporated by
reference to Exhibit&nbsp;99.6 on Form&nbsp;6-K, file number
001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(ii)(D)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Single Payment Modified Guaranteed Deferred
Annuity Application (Group) &#151; 156-GRPMAST-09 &#151;
Incorporated by reference to Exhibit&nbsp;99.7 on Form&nbsp;6-K,
file number 001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(A)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Endorsements to Contract or Certificate Roth
Individual Retirement Annuity &#151; 02 SIMPLE &#151;
Incorporated by reference to Exhibit&nbsp;4(b)(iii)(A) on Form
F-3, file numbers 333-159101 and 333-159101-01, filed on
May&nbsp;8, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(B)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Endorsements to Contract or Certificate Simple
Individual Retirement Annuity &#151; 02TRADIRA &#151; Incorporated
by reference to Exhibit&nbsp;4(b)(iii)(B) on Form&nbsp;F-3, file
numbers 333-159101 and 333-159101-01, filed on May&nbsp;8,
2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(C)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Endorsements to Contract or Certificate
Individual Retirement Annuity &#151; 02ROTH &#151; Incorporated by
reference to Exhibit&nbsp;4(b)(iii)(C) on Form&nbsp;F-3, file
numbers 333-159101 and 333-159101-01, filed on May&nbsp;8,
2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(D)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Roth Individual Retirement Annuity Endorsement
&#151; 10ROTH&#151; Incorporated by reference to Exhibit&nbsp;99.8 on
Form&nbsp;6-K, file number 001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(E)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Simple Individual Retirement Annuity Endorsement
&#151; 10SIMPLE&#151; Incorporated by reference to Exhibit&nbsp;99.9
on Form&nbsp;6-K, file number 001-14942, filed on July&nbsp;25,
2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(F)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Individual Retirement Annuity Endorsement &#151;
10TRADIRA&#151; Incorporated by reference to Exhibit&nbsp;99.10 on
Form&nbsp;6-K, file number 001-14942, filed on July&nbsp;25, 2011.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(b)(iii)(G)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Individual Specifications Page &#151; FL only &#151;
SPEC-MVA09 ed.LC (ed 4/11) &#151; Incorporated by reference
to Exhibit&nbsp;99.11 on Form&nbsp;6-K, file number 001-14942,
filed on July&nbsp;25, 2011.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(c)(i)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Nursing Home Waiver of Withdrawal Charge
Endorsement (Individual) &#151; 09NHCI &#151; Incorporated by
reference to Exhibit&nbsp;4(c)(i) on Form&nbsp;F-3, file numbers
333-159101 and 333-159101-01, filed on May&nbsp;8, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(c)(ii)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen Nursing Home Waiver of Withdrawal Charge Rider
(Group) &#151; 09NHCIG &#151; Incorporated by reference to Exhibit
4(c)(ii) on Form&nbsp;F-3, file numbers 333-159101 and
333-159101-01, filed on May&nbsp;8, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4(d)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subordinated Guarantee by Manulife Financial Corporation
in favor of certain holders of market value adjustment
interests under deferred annuity contracts issued by John
Hancock Life Insurance Company (U.S.A.) dated July&nbsp;15,
2009 &#151; Incorporated by reference to Exhibit&nbsp;4(d) on Form
F-3/A, file numbers 333-159101 and 333-159101-01, filed
on July&nbsp;16, 2009.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(a)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and Consent of Annuities Chief Counsel regarding
the legality of the subordinated guarantee.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(a)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion and Consent of Annuities Chief Counsel regarding
legality of the market value adjustment interests under
deferred annuity contracts being registered.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(b)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Torys LLP regarding validity under Canadian
law of the subordinated guarantee and enforceability of
judgments.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23(a)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of independent registered public accounting firm
for Manulife Financial Corporation.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23(b)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Annuities Chief Counsel (included as part of
its opinion filed as Exhibit&nbsp;5(a)(i) and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23(b)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Annuities Chief Counsel (included as part of
its opinion filed as Exhibit&nbsp;5(a)(ii) and incorporated
herein by reference).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23(c)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Torys LLP (included as part of its opinion
filed as Exhibit&nbsp;5(b) and incorporated herein by
reference).</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24(a)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (included on the signature pages and
incorporated herein by reference).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Previously filed.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;10. Undertakings</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each undersigned registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by section 10(a)(3) of the Securities Act of
1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events arising after the effective
date of this registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in this registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the
low or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective
registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan of distribution
not previously disclosed in this registration statement or any material change to such
information in this registration statement;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or
Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this
registration statement or is contained in a form of prospectus filed pursuant to Rule 424(b) that
is part of the registration statement
</DIV>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.




<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Manulife Financial Corporation hereby undertakes to file a post-effective
amendment to the registration statement to include any financial statements required by Item&nbsp;8.A.
of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial
statements and information otherwise required by Section&nbsp;10(a)(3) of the Securities Act of 1933
need not be furnished, <I>provided</I>, that such registrant includes in the prospectus, by means of a
post-effective amendment, financial statements required pursuant to this paragraph (b)&nbsp;and other
information necessary to ensure that all other information in the prospectus is at least as current
as the date of those financial statements. Notwithstanding the foregoing, with respect to
registration statements on Form F-3, a post-effective amendment need not be filed to include
financial statements and information required by Section&nbsp;10(a)(3) of the Securities Act of 1933 or
Item&nbsp;8 of Form 20-F if such financial statements and information are contained in periodic reports
filed with or furnished to the Commission by such registrant pursuant to Section&nbsp;13 or Section
15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the Form F-3.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;That, for the purpose of determining liability under the Securities Act of 1933 to any
purchaser:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If the registrant is relying on Rule&nbsp;430B:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(A)&nbsp;Each prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3) shall be
deemed to be part of the registration statement as of the date the filed
prospectus was deemed part of and included in the registration statement; and
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">(B)&nbsp;Each prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5), or
(b)(7) as part of a registration statement in reliance on Rule&nbsp;430(B) relating to
an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii)&nbsp;or (x)&nbsp;for the purpose of
providing the information required by section 10(a) of the Securities Act of 1933
shall be deemed to be part of and included in the registration statement as of the
earlier of the date such form of prospectus is first used after effectiveness or
the date of the first contract of sale of securities in the offering described in
the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the issuer
and any person that is at that date an underwriter, such date shall be deemed to
be a new effective date of the registration statement relating to the securities
in the registration statement to which that prospectus relates, and the offering
of such securities at that time shall be deemed to be the initial <I>bona fide</I>
offering thereof. <I>Provided, however, </I>that no statement made in a registration
statement or prospectus that is part of the registration statement or made in a
document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such effective date, supersede
or modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document
immediately prior to such effective date; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">(ii) If the registrant is subject to Rule&nbsp;430C, each prospectus filed pursuant to
Rule 424(b) as part of a registration statement relating to an offering, other than
registration statements relying on Rule&nbsp;430B or other than prospectuses filed in
reliance on Rule&nbsp;430A, shall be deemed to be part of and included in the registration
statement as of the date it is first used after effectiveness. <I>Provided, however,</I>
that no statement made in a registration statement or prospectus that is part of the
registration statement or made in a document incorporated or deemed incorporated by
reference into the registration statement or prospectus that is part of the
registration statement will, as to purchaser with a time of contract of sale prior to
such first use, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in any
such document immediately prior to such date of first use.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;That, for the purpose of determining liability of the registrant under the Securities Act
of 1933 to any purchaser in the initial distribution of the securities:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant undertakes that in a primary offering of securities of the
undersigned registrant pursuant to this registration statement, regardless of the
underwriting method used to sell the securities to the purchaser, if the securities are
offered or sold to such purchaser by means of any of the following communications, the
undersigned registrant will be a seller to the purchaser and will be considered to offer or
sell such securities to such purchaser:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to
the offering required to be filed pursuant to Rule&nbsp;424;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Any free writing prospectus relating to the offering prepared by or on behalf of
the undersigned registrant or used or referred to by the undersigned registrant;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The portion of any other free writing prospectus relating to the offering
containing material information about the undersigned registrant or its securities provided
by or on behalf of the undersigned registrant; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Any other communication that is an offer in the offering made by the undersigned
registrant to the purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Each undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of such registrant&#146;s annual report pursuant
to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, that is
incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrants pursuant to the
foregoing provisions, or otherwise, each
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">registrant has been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of 1933 and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by a registrant of expenses incurred or paid by a director, officer or
controlling person of such registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, each registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act of 1933 and will
be governed by the final adjudication of such issue.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, Manulife Financial Corporation
certifies that it has reasonable grounds to believe that it meets all of the requirements for
filing on Form F-3 and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Toronto, Province of Ontario, Canada, on
January&nbsp;31, 2012.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="59%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">MANULIFE FINANCIAL CORPORATION</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Donald A. Guloien</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Donald A. Guloien</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>President and Chief Executive Officer</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints Donald A. Guloien, Michael
W. Bell, Warren A. Thomson, Jean-Paul Bisnaire, Peter J. Levitt and each of them, any of whom may
act without the joinder of the other, as his or her true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any or all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto and
other documents in connection therewith, with the U.S. Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, full power and authority to do and perform each and every
act and thing requisite and necessary to be done, as fully to all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and
agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated on January&nbsp;31, 2012.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Donald A. Guloien<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Donald A. Guloien</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">President, Chief Executive Officer and Director<BR>
(Principal Executive Officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Michael W. Bell<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Michael W. Bell</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Senior Executive Vice President and Chief<BR>
Financial Officer (Principal Financial and Accounting Officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Gail C.A. Cook-Bennett<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Gail C.A. Cook-Bennett</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chair&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Linda B. Bammann<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Linda B. Bammann</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Joseph P. Caron<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Joseph P. Caron</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ John M. Cassaday<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>John M. Cassaday</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Thomas P. d&#146;Aquino<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Thomas P. d&#146;Aquino</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/a/ Richard B. DeWolfe<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Richard B. DeWolfe</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Robert E. Dineen, Jr.<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Robert E. Dineen, Jr.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Sheila Fraser<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Sheila Fraser</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Scott M. Hand<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Scott M. Hand</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Robert J. Harding<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Robert J. Harding</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Luther S. Helms<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Luther S. Helms</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Tsun-yan Hsieh<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Tsun-yan Hsieh</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Donald Lindsay<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Donald Lindsay</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Lorna R. Marsden<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Lorna R. Marsden</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ John R.V. Palmer<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>John R.V. Palmer</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Andrea S. Rosen<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Andrea S. Rosen</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">/s/ Hugh W. Sloan, Jr.<BR>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Hugh W. Sloan, Jr.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, John Hancock Life Insurance
Company (U.S.A.) certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form F-3 and has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of Boston, Commonwealth of
Massachusetts, on January&nbsp;31, 2012.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">JOHN HANCOCK LIFE INSURANCE COMPANY<BR>
(U.S.A.)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ James R. Boyle
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;</TD>
<TD valign="top"></TD>

    <TD align="left" colspan="2"><B>James R. Boyle</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD valign="top"></TD>
    <TD align="left"><B>Principal Executive Officer, Chief<br>
Executive Officer and Chairman</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints Lynne Patterson, Emanuel
Alves, John Danello, Scott A. Lively, Arnold R. Bergman, Thomas J. Loftus and David S. Pickett, and
each of them, any of whom may act without the joinder of the other, as his or her true and lawful
attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her
and in his or her name, place and stead, in any and all capacities, to sign any or all amendments
(including post-effective amendments) to this Registration Statement, and to file the same, with
all exhibits thereto and other documents in connection therewith, with the U.S. Securities and
Exchange Commission, granting unto said attorneys-in-fact and agents, full power and authority to
do and perform each and every act and thing requisite and necessary to be done, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause
to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated on January&nbsp;31, 2012.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James R. Boyle
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chief Executive Officer and Chairman (Principal
Executive Officer)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>James R. Boyle</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Lynne Patterson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Senior Vice President, Chief Financial Officer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Lynne Patterson</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Principal Financial Officer)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Jeffrey J. Whitehead
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Vice President and Controller (Principal
Accounting Officer)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Jeffery J. Whitehead</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Thomas Borshoff
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Thomas Borshoff</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Paul M. Connolly
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Paul M. Connolly</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Steven Finch
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Steven Finch</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Ruth Ann Fleming
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Ruth Ann Fleming</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ James D. Gallagher
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>James D. Gallagher</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Scott S. Hartz
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Scott S. Hartz</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Rex E. Schlaybaugh, Jr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>Rex E. Schlaybaugh, Jr.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John G. Vrysen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
<B>John G. Vrysen</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AUTHORIZED REPRESENTATIVE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, as amended, the
undersigned, the duly authorized representative of Manulife Financial Corporation in the United
States, has signed this Registration Statement on January&nbsp;31, 2012.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">JOHN HANCOCK LIFE INSURANCE COMPANY <BR>
(U.S.A.)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Emanuel Alves
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD valign="top"></TD>
    <TD align="left"><B>Emanuel Alves</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD valign="top"></TD>
    <TD align="left"><B>Vice President, Counsel and Corporate<br>
Secretary</B>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXHIBIT INDEX
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Item No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" colspan="3" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(a)(i)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="left" valign="top">Opinion and Consent of Annuities Chief Counsel regarding the
 legality of the subordinated guarantee.
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(a)(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">Opinion and Consent of Annuities Chief Counsel regarding the
 legality of the market value adjustment interests under deferred
 annuity contracts being registered.
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5(b)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="left" valign="top">Opinion of Torys LLP regarding validity under Canadian law of the
 subordinated guarantee and enforceability of judgments.
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23(a)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="left" valign="top">Consent of independent registered public accounting firm for
 Manulife Financial Corporation
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5(A)(I)
<SEQUENCE>2
<FILENAME>b89822a1exv99w5xayxiy.htm
<DESCRIPTION>OPINION AND CONSENT OF ANNUITIES CHIEF COUNSEL REGARDING THE LEGALITY OF THE SUBORDINATED GUARANTEE.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w5xayxiy</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->



<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5(a)(i)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>John Hancock Financial Services</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><IMG src="b89822a1b8982209.gif" alt="(JOHN)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Arnold R. Bergman<BR>
Chief Counsel &#151; Annuities<BR>
U.S. Wealth Management<BR>
601 Congress Street<BR>
Boston, MA 02210<BR>
 (617)&nbsp;663-2184<BR>
Fax: (617)&nbsp;663-2197<BR>
E-mail: <u>abergman@jhancock.com</u>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">January&nbsp;31, 2012
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
200 Bloor Street East<BR>
Toronto, Ontario<BR>
Canada M4W 1E5

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Re:</TD>
    <TD>&nbsp;</TD>
    <TD>Guarantee of Market Value Adjustment<BR>
<u>Interests Contained in Modified Annuity Contracts</u></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I have acted as special United States legal counsel to Manulife Financial Corporation, a Canadian
corporation (&#147;MFC&#148;) and indirect parent of John Hancock Life Insurance Company (U.S.A.), a stock
life insurance company organized under the laws of the State of Maine and redomesticated and
existing under the laws of the State of Michigan (the &#147;Company&#148;), for the purpose of rendering a
legal opinion as to certain matters of United States law in connection with the preparation of a
joint Registration Statement on Form F-3 (the &#147;Registration Statement&#148;) filed by MFC and the
Company with the Securities and Exchange Commission (the &#147;Commission&#148;) on January&nbsp;31, 2012. The
Registration Statement relates to (i)&nbsp;the issuance and sale from time to time, pursuant to Rule&nbsp;415
of the General Rules and Regulations promulgated under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), of the Company&#146;s modified guaranteed annuity contracts (the &#147;Contracts&#148;) that
contain market value adjustment interests (the &#147;MVAIs&#148;) in an aggregate amount not to exceed $2.4
billion, and (ii)&nbsp;the full and unconditional subordinated guarantee by MFC of the Company&#146;s payment
obligations with respect to the MVAIs period. The MVAIs are to be (i)&nbsp;issued under forms of the
Contracts between the Company and owners of its Contracts; and (ii)&nbsp;guaranteed by MFC pursuant to
the terms of a Subordinated Guarantee dated July&nbsp;15, 2009 (the &#147;Subordinated Guarantee&#148;). A form of
the Contracts and the Subordinated Guarantee have been filed and incorporated by reference into the
Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In connection with this opinion, I have examined: (a)&nbsp;the Registration Statement; (b)&nbsp;a form of the
Contracts; and (c)&nbsp;a form of the Subordinated Guarantee, and such other agreements, documents,
certificates and records as I have deemed necessary or appropriate as a basis for the opinion set
forth herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In my examination, I have assumed the genuineness of all signatures, the legal capacity of natural
persons, the authenticity of all documents submitted to me as originals, the
conformity to original documents of all documents submitted to me as certified or photocopies and
the authenticity of the originals of such copies.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
January&nbsp;31, 2012<BR>
Page 2

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Insofar as the opinions expressed herein relate to matters governed by the laws of Canada, I have
relied upon the opinion of Torys LLP, special legal counsel in Canada for MFC, dated January&nbsp;31,
2012, filed as Exhibit 5(b) to the Registration Statement. No opinion is expressed with respect to
the qualification of the Subordinated Guarantee under the securities or &#147;blue-sky&#148; laws of any
state, or any foreign jurisdiction. This opinion is limited to the laws, including the rules and
regulations thereunder, as in effect on the date hereof. I express no opinion with respect to any
question of choice of law, choice of venue, or conflicts of laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based upon and subject to the foregoing, I am of the opinion that, when the MVAIs have been issued
and sold in accordance with the terms of the Contracts and the Subordinated Guarantee, MFC&#146;s
obligations under the Subordinated Guarantee with respect to such MVAIs will constitute legal,
valid and binding obligations of MFC, enforceable against MFC in accordance with the terms of the
Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The opinion set forth above is subject to the following exceptions, limitations and qualifications:
(i)&nbsp;the effect of bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or
other similar laws now or hereafter in effect relating to or affecting the rights and remedies of
creditors; (ii)&nbsp;the effect of general principles of equity, whether enforcement is considered in a
proceeding in equity or at law, and the discretion of the court before which any proceeding
therefore may be brought; (iii)&nbsp;the unenforceability under certain circumstances under law or court
decisions of provisions providing for the indemnification of, or contribution to, a party with
respect to a liability where such indemnification or contribution is contrary to public policy; and
(iv)&nbsp;I express no opinion concerning the enforceability of any waiver of rights or defenses with
respect to stay, extension or usury laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of the opinions rendered above, I have assumed at or prior to the time of the delivery
of the Contracts: (i)&nbsp;the Board of Directors (or the relevant equivalent) of MFC shall have duly
approved, authorized and executed the Subordinated Guarantee and such authorization shall not have
been modified or rescinded; (ii)&nbsp;the Registration Statement shall have been declared effective and
such effectiveness shall not have been terminated or rescinded; and (iii)&nbsp;there shall not have
occurred any change in law affecting the validity or enforceability of the Subordinated Guarantee.
I have also assumed that none of the terms of the Subordinated Guarantee, nor the issuance and
delivery of such security, nor the compliance by MFC with the terms of such Subordinated Guarantee
will violate any applicable law or will result in a violation of any provision of any instrument or
agreement then binding upon MFC, or any restriction imposed by any court or governmental body
having jurisdiction over MFC.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to
the reference to this opinion under the caption &#147;Legal Opinions&#148; in the prospectus
included therein. In giving this consent, I do not thereby admit that I am included in the category
of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and
regulations of the Commission promulgated thereunder.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
January&nbsp;31, 2012<BR>
Page 3

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This opinion is furnished by me, as special United States legal counsel to MFC, in accordance with
the requirements of Item&nbsp;601(b)(5) of Regulation&nbsp;S-K under the Securities Act and, except as
provided in the immediately preceding paragraph, is not to be used, circulated or quoted for any
other purpose or otherwise referred to or relied upon by any other person without my express prior
written consent, provided that Torys LLP may rely on this opinion in connection with its opinion
filed as Exhibit 5(b) to the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Very truly yours,
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Arnold R. Bergman
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Arnold R. Bergman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chief Counsel &#151; Annuities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5(A)(II)
<SEQUENCE>3
<FILENAME>b89822a1exv99w5xayxiiy.htm
<DESCRIPTION>OPINION AND CONSENT OF ANNUITIES CHIEF COUNSEL REGARDING THE LEGALITY OF THE MARKET VALUE ADJUSTMENT INTERESTS UNDER DEFERRED ANNUITY CONTRACTS BEING REGISTERED.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w5xayxiiy</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5(a)(ii)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>John Hancock Financial Services</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><IMG src="b89822a1b8982209.gif" alt="(JOHN)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Arnold R. Bergman<BR>
Chief Counsel &#151; Annuities<BR>
U.S. Wealth Management<BR>
601 Congress Street<BR>
Boston, MA 02210<BR>
(617)&nbsp;663-2184<BR>
Fax: (617)&nbsp;663-2197<BR>
E-mail: <u>abergman@jhancock.com</u>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">January&nbsp;31, 2012
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock Life Insurance Company (U.S.A.)<BR>
601 Congress Street<BR>
Boston, MA 02210

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Re:</TD>
    <TD>&nbsp;</TD>
    <TD>John Hancock Life Insurance Company (U.S.A.) Market Value<BR>
<u>Adjustment Interests Contained in Modified Annuity Contracts</u></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I have acted as counsel to John Hancock Life Insurance Company (U.S.A.), a stock life insurance
company organized under the laws of the State of Maine and redomesticated and existing under the
laws of the State of Michigan (the &#147;Company&#148;), in connection with the preparation of a joint
Registration Statement on Form F-3 (the &#147;Registration Statement&#148;) filed by Manulife Financial
Corporation, a Canadian corporation and indirect parent of the Company (&#147;MFC&#148;), and the Company
with the Securities and Exchange Commission (the &#147;Commission&#148;) on January&nbsp;31, 2012. The
Registration Statement relates to (i)&nbsp;the issuance and sale from time to time, pursuant to Rule&nbsp;415
of the General Rules and Regulations promulgated under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), of the Company&#146;s modified guaranteed annuity contracts (the &#147;Contracts&#148;) that
contain market value adjustment interests (the &#147;MVAIs&#148;) in an aggregate amount not to exceed $2.4
billion, and (ii)&nbsp;the full and unconditional subordinated guarantee by MFC of the Company&#146;s payment
obligations with respect to the MVAIs period. The MVAIs are to be (i)&nbsp;issued under forms of the
Contracts between the Company and owners of its Contracts; and (ii)&nbsp;guaranteed by MFC pursuant to
the terms of a Subordinated Guarantee dated July&nbsp;15, 2009 (the &#147;Subordinated Guarantee&#148;). A form of
the Contracts and the Subordinated Guarantee have been filed and incorporated by reference into the
Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In connection with this opinion, I have examined: (a)&nbsp;the Registration Statement; (b)&nbsp;a form of the
Contracts; and (c)&nbsp;a form of the Subordinated Guarantee, (d)&nbsp;the Company&#146;s Articles of
Organization, as currently in effect; and (e)&nbsp;resolutions adopted by the Executive Committee of the
Board of Directors of the Company relating to the filing of the Registration Statement and related
matters. I have also examined such other agreements, documents, certificates and records as I have
deemed necessary or appropriate as a basis for the opinion set forth herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In my examination, I have assumed the genuineness of all signatures, the legal capacity of natural
persons, the authenticity of all documents submitted to me as originals, the conformity to original
documents of all documents submitted to me as certified or photocopies and the authenticity of the
originals of such copies.
</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John Hancock Life Insurance Company (U.S.A.)<BR>
January&nbsp;31, 2012<BR>
Page 2

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I am admitted to the Bar of the Commonwealth of Massachusetts. No opinion is expressed with respect
to the qualification of the MVAIs under the securities or &#147;blue-sky&#148; laws of any state, or any
foreign jurisdiction. The MVAIs may be issued from time to time on a delayed or continuous basis,
but this opinion is limited to the laws, including the rules and regulations thereunder, as in
effect on the date hereof. I express no opinion with respect to any question of choice of law,
choice of venue, or conflicts of laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based upon and subject to the foregoing, I am of the opinion that, when the MVAIs have been issued
and sold in accordance with the terms of the Contracts, such MVAIs will constitute legal, valid and
binding obligations of the Company, enforceable against the Company in accordance with their terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The opinion set forth above is subject to the following exceptions, limitations and qualifications:
(i)&nbsp;the effect of bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or
other similar laws now or hereafter in effect relating to or affecting the rights and remedies of
creditors; (ii)&nbsp;the effect of general principles of equity, whether enforcement is considered in a
proceeding in equity or at law, and the discretion of the court before which any proceeding
therefore may be brought; (iii)&nbsp;the unenforceability under certain circumstances under law or court
decisions of provisions providing for the indemnification of, or contribution to, a party with
respect to a liability where such indemnification or contribution is contrary to public policy; and
(iv)&nbsp;I express no opinion concerning the enforceability of any waiver of rights or defenses with
respect to stay, extension or usury laws.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of the opinions rendered above, I have assumed that the Company will at all times in
the future: (i)&nbsp;be duly incorporated and validly existing as a corporation under the laws of the
State of Michigan and; (ii)&nbsp;have the corporate power and authority to issue and sell the MVAIs. As
of the date of this opinion, the Company is duly organized and validly existing as a domestic
company under the laws of the State of Michigan and has the corporate power and authority to issue
and sell the MVAIs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to
the reference to this opinion under the caption &#147;Legal Opinions&#148; in the prospectus included
therein. In giving this consent, I do not thereby admit that I am included in the category of
persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and
regulations of the Commission promulgated thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This opinion is furnished by me, as counsel to the Company, in accordance with the requirements of
Item&nbsp;601(b)(5) of Regulation&nbsp;S-K under the Securities Act and, except as provided in the
immediately preceding paragraph, is not to be used, circulated or quoted for any other purpose or
otherwise referred to or relied upon by any other person without my express prior written consent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Very truly yours,
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Arnold R. Bergman
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Arnold R. Bergman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Chief Counsel &#151; Annuities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5(B)
<SEQUENCE>4
<FILENAME>b89822a1exv99w5xby.htm
<DESCRIPTION>OPINION OF TORYS LLP REGARDING VALIDITY UNDER CANADIAN LAW OF THE SUBORDINATED GUARANTEE AND ENFORCEABILITY OF JUDGMENTS.
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w5xby</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5(b)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="75%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="b89822a1b8982210.gif" alt="(TORYS)"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suite&nbsp;3000</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">79 Wellington St. W.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Box 270, TD Centre</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Toronto, Ontario</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">M5K1N2 Canada</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tel 416.865.0040</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fax 416.865.7380</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">www.torys.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">January&nbsp;31, 2012

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Manulife Financial Corporation<BR>
200 Bloor Street East<BR>
Toronto, Ontario<BR>
Canada M4W1E5

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sirs/Mesdames:

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Re:</B></TD>
    <TD>&nbsp;</TD>
    <TD><U><B>Guarantee of John Hancock Life Insurance Company (U.S.A.) MVAIs</B></U></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We act in Canada for Manulife Financial Corporation, a Canadian corporation (&#147;MFC&#148;) and
indirect parent of John Hancock Life Insurance Company (U.S.A.), a stock life insurance company
organized under the laws of the State of Maine and redomesticated and existing under the laws of
the State of Michigan (the &#147;Company&#148;). This opinion is being delivered to you in connection with
the joint Registration Statement on Form F-3 (the &#147;Registration Statement&#148;) filed by MFC and the
Company with the Securities and Exchange Commission (the &#147;Commission&#148;) on January&nbsp;31, 2012. The
Registration Statement relates to (a)&nbsp;the issuance and sale from time to time, pursuant to Rule&nbsp;415
of the General Rules and Regulations promulgated under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), of up to an aggregate of $2,400,000,000 of the Company&#146;s market value adjustment
interests (the &#147;MVAIs&#148;) under deferred annuity contracts (the &#147;Contracts&#148;), and (b)&nbsp;the full and
unconditional subordinated guarantee by MFC of the Company&#146;s payment obligations with respect to
the portion of the Contracts selected by the holders to earn a guaranteed fixed return for a
specified period. The MVAIs are to be (i)&nbsp;issued under forms of the Contracts between the Company
and the owners of its Contracts; and (ii)&nbsp;guaranteed by MFC pursuant to the terms of a Subordinated
Guarantee dated July&nbsp;15, 2009 by MFC (the &#147;Subordinated Guarantee&#148;). The Subordinated Guarantee and
a form of the Contracts have been filed and incorporated by reference into the Registration
Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As such counsel, we have participated in the preparation of (i)&nbsp;the portions of the Registration
Statement relating to MFC and the Subordinated Guarantee, and (ii)&nbsp;the Subordinated Guarantee, and,
where applicable, have examined executed copies of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have made such investigations and examined originals or copies, certified or otherwise
identified to our satisfaction, of such certificates of public officials and of such other
certificates, documents and records as we have considered necessary or relevant for the purposes of
the opinions hereinafter expressed, including, (i)&nbsp;MFC&#146;s letters patent, as currently in effect,
(ii)&nbsp;MFC&#146;s by-laws, as currently in effect, (iii)&nbsp;resolutions adopted by the Board of Directors of
MFC relating to the filing of the Registration Statement, authorization of the Subordinated
Guarantee and related matters, (iv)&nbsp;a certificate of an officer of MFC as to certain factual
matters (the &#147;MFC Officer&#146;s Certificate&#148;), and (v)&nbsp;a certificate of confirmation dated January&nbsp;30,
2012 (the &#147;Certificate of Confirmation&#148;) in respect of MFC pursuant to the <I>Insurance Companies Act</I>
(Canada) (the &#147;ICA&#148;).
</DIV>

</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the purposes of this opinion, we have assumed, with respect to all documents examined by
us, the genuineness of all signatures, the legal capacity of all natural persons, the authenticity
of all documents submitted to us as originals and the conformity to authentic original documents of
all documents submitted to us as certified, conformed, telecopied or photostatic copies. We have
also assumed that the Certificate of Confirmation continues to be accurate as of the date hereof.
We have relied upon the certificates referred to above with respect to the accuracy of the factual
matters contained therein; while we have not performed any independent check or verification of
such factual matters, nothing has come to our attention during our participation with respect to
the Registration Statement which leads us to believe such certificates are incorrect. We have also
assumed that the Subordinated Guarantee is enforceable by holders, owners, annuitants and
beneficiaries under the Contracts despite the fact that such persons are not party to the
Subordinated Guarantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Subordinated Guarantee is expressed to be governed by the laws of the Commonwealth of
Massachusetts (&#147;Massachusetts Law&#148;). We have not considered the legal effect of the terms of the
Subordinated Guarantee under Massachusetts Law, we have made no investigation into such law as a
basis for the opinions expressed herein and we do not express any opinion relating to the
Subordinated Guarantee under Massachusetts Law. This opinion is limited to the laws of the Province
of Ontario and the federal laws of Canada applicable therein, including the rules and regulations
thereunder, as in effect on the date hereof. Insofar as the opinions expressed herein relate to
matters governed by the laws of the United States of America or the Commonwealth of Massachusetts,
we have relied upon the opinion of Arnold R. Bergman, Chief Counsel -Annuities for the Company,
dated January&nbsp;31, 2012, filed as Exhibit&nbsp;5(a)(i) to the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In giving the opinion in paragraph l as to the corporate existence of MFC, we have relied
exclusively on the Certificate of Confirmation and MFC Officer&#146;s Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The opinions set forth in paragraphs 4 and 5 below are subject to the following exceptions,
limitations and qualifications, as applicable: (i)&nbsp;the effect of bankruptcy, insolvency,
reorganization, arrangement, fraudulent conveyance, moratorium or other similar laws of general
application affecting the enforcement of the rights and remedies of creditors generally; (ii)&nbsp;the
availability of equitable remedies is in the discretion of a court of competent jurisdiction; (iii)
the unenforceability under certain circumstances, under applicable law or court decisions of
provisions providing for the indemnification of, or contribution to, a party with respect to a
liability where such indemnification or contribution is contrary to public policy; (iv)&nbsp;we express
no opinion concerning the enforceability of any waiver of rights or defenses with respect to stay,
extension or usury laws; (v)&nbsp;we express no opinion as to the enforceability in any particular
circumstance, of any provisions of the Subordinated Guarantee which provide for the severability of
illegal or unenforceable provisions; (vi)&nbsp;we express no opinion as to the enforceability of, nor as
to the manner in which an Ontario court would interpret and apply, any provision of the
Subordinated Guarantee which refers to, incorporates by reference, or requires compliance with, any
law, statute, rule or regulation of Massachusetts Law or of the United States of America; and (vii)
under the <I>Currency Act </I>(Canada), an Ontario Court may only award judgment in Canadian dollars. Such
judgment may be based on a rate of exchange determined in accordance with section 121 of the <I>Courts
of Justice Act </I>(Ontario), which rate of exchange may be the rate in existence on a day other than
the day of payment of such judgment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based on and subject to the foregoing, we are of the opinion that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MFC has been incorporated and is existing under the ICA.</TD>
</TR>







</TABLE>
</DIV></DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>MFC has the corporate power and capacity to enter into and perform its obligations
under the Subordinated Guarantee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Subordinated Guarantee has been duly authorized by MFC.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If an action or proceeding were brought in a court of competent jurisdiction in the
Province of Ontario (an &#147;Ontario Court&#148;) to enforce the Subordinated Guarantee and the
Ontario Court were to apply the laws of Ontario to govern and interpret the
Subordinated Guarantee (either because the Ontario Court finds that Ontario law is the
proper law of the Subordinated Guarantee contrary to its express provisions which
stipulate that it will be governed and interpreted by Massachusetts Law or because
Massachusetts Law is not proven to the Ontario Court in such action), when each of the
Contracts has been issued and sold in accordance with the terms of the Contracts and the
Subordinated Guarantee, MFC&#146;s obligations under the Subordinated Guarantee with
respect to such Contracts would constitute legal, valid and binding obligations of MFC,
enforceable against MFC in accordance with the terms of the Subordinated Guarantee.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The laws of the Province of Ontario and the federal laws of Canada applicable therein
permit an action to be brought in an Ontario Court on a final and conclusive judgment
<I>in personam </I>for a fixed sum of money of a State or Federal Court in the City of Boston,
Commonwealth of Massachusetts (a &#147;Massachusetts Court&#148;) that is subsisting and
unsatisfied respecting the enforcement of the Subordinated Guarantee and that is not
impeachable as void or voidable under Massachusetts Law if: (a)&nbsp;such judgment was not
obtained by fraud or in a manner contrary to natural justice and the enforcement thereof
would not be inconsistent with public policy as such term is applied by an Ontario Court,
or contrary to any order made by the Attorney General of Canada under the <I>Foreign
Extraterritorial Measures Act </I>(Canada) or by the Competition Tribunal under the
<I>Competition Act </I>(Canada) in respect of certain judgments, laws and directives having
effect on competition in Canada; (b)&nbsp;the enforcement of such judgment does not
constitute, directly or indirectly, the enforcement of foreign revenue or penal laws;
(c)&nbsp;the action to enforce such judgment is commenced within the applicable limitation
period; and (d)&nbsp;a court rendering such judgment had jurisdiction over MFC as recognized by
the courts of the Province of Ontario (in our opinion, submission under the provisions of
the Subordinated Guarantee to the non-exclusive jurisdiction of a Massachusetts Court will
be sufficient for this purpose). Based on our review of the Subordinated Guarantee and the
Contracts, in our opinion, there are no reasons under the laws of the Province of Ontario or
the federal laws of Canada applicable therein for avoiding recognition of judgments of a
Massachusetts Court under the Subordinated Guarantee based on public policy, as that term is
applied by an Ontario Court.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We hereby consent to the filing of this opinion as an exhibit to the Registration Statement, to the
reference to this opinion under the captions &#147;Legal Opinions&#148; and &#147;Enforcement of Judgments&#148; and to
the reference to our firm name under the caption &#147;Enforcement of Judgments&#148; in the prospectus filed
as part of the Registration Statement for the registration of the MVAIs and the Subordinated
Guarantee. In giving this consent, we do not thereby admit that we are included in the category of
persons whose consent is required by the Securities Act.
</DIV>




</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->-4-<!-- /Folio -->




<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Yours truly,</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Torys LLP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Torys LLP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">DAS//RJC//CR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.23(A)
<SEQUENCE>5
<FILENAME>b89822a1exv99w23xay.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR MANULIFE FINANCIAL CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w23xay</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;23(a)</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We consent to the reference to our firm under the caption &#147;Experts&#148; and to the incorporation
by reference in the Registration Statement on Form F-3 of Manulife Financial Corporation and John
Hancock Life Insurance Company (U.S.A) pertaining to John Hancock Life Insurance Company (U.S.A.)&#146;s
market value adjustment interests under deferred annuity contracts and Manulife Financial
Corporation&#146;s subordinated guarantee relating thereto of our reports (a)&nbsp;dated March&nbsp;18, 2011, with
respect to the consolidated financial statements of Manulife Financial Corporation as at December
31, 2010 and 2009 and for the years then ended and the effectiveness of internal control over
financial reporting of Manulife Financial Corporation as at December&nbsp;31, 2010; and (b)&nbsp;dated March
19, 2010, with respect to the consolidated financial statements of Manulife Financial Corporation
as of December&nbsp;31, 2009 and 2008, and for the years then ended and the effectiveness of internal
control over financial reporting of Manulife Financial Corporation as of December&nbsp;31, 2009, filed
with the Securities and Exchange Commission.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="35%"></TD>
    <TD width="17%"></TD>
</TR>
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<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap style="border-bottom: 0px solid #000000">/s/ Ernst &#38; Young LLP</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Toronto, Canada <BR>
January&nbsp;31, 2012
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Chartered Accountants<BR>
Licensed Public Accountants</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
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<SEQUENCE>7
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>COVER
<SEQUENCE>18
<FILENAME>filename18.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>cover</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>John Hancock Financial Services</B><BR>
U.S. Wealth Management Law Department<BR>
601 Congress Street<BR>
Boston, MA 02210-2805<BR>
(617)&nbsp;663-3192<BR>
Fax: (617)&nbsp;663-2197<BR>
E-Mail: tloftus@jhancock.com
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="b89822a1b8982211.gif" alt="(JONH HANCOCK)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">VIA EDGAR
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">January&nbsp;31, 2012
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sonny Oh, Esq.<BR>
Division of Investment Management<BR>
Office of Insurance Products<BR>
U.S. Securities and Exchange Commission<BR>
100 F Street, NE<BR>
Washington, D.C. 20549-4644

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:</TD>
    <TD>&nbsp;</TD>
    <TD>Manulife Financial Corporation/John Hancock Life Insurance Company (U.S.A.)<BR>
Initial Joint Registration Statement on Form&nbsp;F-3</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Mr.&nbsp;Oh:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We are transmitting today for filing with the Commission under the Securities Act of 1933 a joint
registration statement on Form F-3 on behalf of John Hancock Life Insurance Company (U.S.A.) (&#147;John
Hancock USA&#148;) and its parent, Manulife Financial Corporation (&#147;MFC&#148;)(&#147;New Registration Statement&#148;).
The New Registration Statement covers the offer and sale by John Hancock USA of a form of single
premium deferred annuity contract with market value adjustment interests (the &#147;Contract&#148;) that are
fully and unconditionally guaranteed by MFC. We are filing an omnibus form of prospectus with the
New Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We intend
the New Registration Statement to replace SEC File Nos. 333-159101 and 333-159101-01 (the
&#147;Currently Effective Base MVA Registration&#148;), which were declared effective on July&nbsp;20, 2009. John
Hancock USA intends to use the prospectus in the New Registration Statement to offer the Contract
in different distribution channels. The omnibus prospectus in the New Registration Statement also
discloses the availability of new guarantee periods under currently issued Contracts described in
the Currently Effective Base MVA Registration. As filed, the omnibus prospectus includes all
information applicable to Contracts issued by John Hancock USA in each of the distribution
channels. Following the effectiveness of the New Registration Statement, a final prospectus will be
tailored to the market in which the Contract is used and, therefore,  the form of a final
prospectus will vary from that filed herewith in the following respects:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;The Contract has a different marketing name for each distribution channel. As filed, the
prospectus in the New Registration Statement refers generically to &#147;Product Marketing Name&#148; on the
cover page. The cover page of a final prospectus will specify the marketing name of the Contract
for the channel in which that form of prospectus is being used. The marketing name will not appear
elsewhere in the final prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;The minimum purchase payment for a newly issued Contract will vary by marketing channel.
As filed, the prospectus in the New Registration Statement identifies all minimum purchase payment
options on the cover page. The cover page of a final prospectus for newly issued Contracts will
specify only the minimum purchase payment for the channel in which that form of prospectus is being
used. Subsequent discussion in the final prospectus of the minimum purchase payment will refer to
the amount specified on the cover page.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;The Withdrawal Charge Schedule for the Contract is set forth in Appendix&nbsp;B to the
prospectus. As filed, the prospectus in the New Registration Statement contains two versions of
Appendix&nbsp;B. A final prospectus for newly issued Contracts will contain only the Withdrawal Charge
Schedule appropriate to the distribution channel in which the prospectus is being used. A final
prospectus for available guarantee periods under previously issued Contracts may contain both
versions of Appendix&nbsp;B.
</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sonny Oh, Esq.<BR>
SEC Office of Insurance Products<BR>
January&nbsp;31, 2012<BR>
Page 2 of 3

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We will subsequently file, under Rule&nbsp;424, each form of a final prospectus that will include the
definitive marketing name, minimum purchase payment, and Withdrawal Charge Schedule for each
version of the prospectus as it will be used for newly issued Contracts. We will also subsequently
file, under Rule&nbsp;424, any other form of a final prospectus that describes available guarantee
periods under previously issued Contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The enclosed courtesy copies are marked against the  last formal
filing with the Commission of the Currently Effective Base MVA
Registration on July&nbsp;17, 2009. We marked the courtesy copies to indicate the
following revisions to the Currently Effective Base MVA Registration<SUP style="FONT-size: 85%; vertical-align: text-top"> 1</SUP>:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Part&nbsp;II &#151; Filing Fee Table</U>. The filing fee table reflects the amount of
securities to be registered, the filing fees for securities expected to remain unsold, and
the offset of filing fees remaining unsold from the Current Base MVA Registration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Part&nbsp;II &#151; Revisions of an Updating Nature.</U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Prospectus &#151;Revisions to Conform Disclosure.</U> We have made non-substantive
revisions to the disclosure in several sections of the enclosed prospectus to reflect
updates to definitions, risk disclosure, accounting treatment and tax law changes. We
describe these revisions in more detail below.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>Cover Pages:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated cross-references, disclosure regarding tax consequences, and
disclosure regarding accounting principles.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>I. Glossary:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated the definitions for &#147;Annuity Option&#148; and &#147;Annuities Service Center.&#148;
We also have added definitions for &#147;Good Order,&#148; &#147;Guarantee Period&#148; and &#147;In Writing.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>II. Overview:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have added section headings, removed language regarding group contracts,
re-ordered paragraphs for clarity, highlighted &#147;Risks Related to the Withdrawal
Charge&#148; and revised disclosure thereto, and added disclosure regarding the Small
Business Jobs Act of 2010.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>III. Description of the Contract: </I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have revised the sections on &#147;Subsequent Guarantee Periods,&#148; &#147;Telephone and
Electronic Transactions,&#148; &#147;Death Benefit Before Maturity Date,&#148; and &#147;Right to Review&#148;
to reflect current practices. We also have added disclosure regarding &#147;Impact of
Divorce,&#148; &#147;Signature Guarantee Requirements for Surrenders and Withdrawals,&#148; partial
annuitization, the Federal Defense of Marriage Act, and Code Section&nbsp;72(s).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>IV. Charges, Deductions and Adjustments: </I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated state variations where applicable, adopted the term &#147;turned&#148; instead
of &#147;attained&#148; regarding a persons age and revised the definition for &#147;<I>k= </I>the
adjustment factor.&#148; We also revised the examples to reflect a more realistic current
guaranteed rate of 4%.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>We filed Pre-effective Amendment No.&nbsp;1 to the
Currently Effective Base MVA Registration on July&nbsp;17, 2009 (SEC File Nos.
333-159101 and 333-159101-01) (Accession No.&nbsp;0000950123-09-022883), shortly
before it was declared effective on July&nbsp;20, 2009. We made the initial filing
on Form F-3 for the Currently Effective Base MVA Registration on May&nbsp;8, 2009
(Accession No.&nbsp;0000950135-09-003799).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sonny Oh, Esq.<BR>
SEC Office of Insurance Products<BR>
January&nbsp;31, 2012<BR>
Page 3 of 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>V. General Information About Us:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have revised disclosure about the parent company, MFC, and we have updated the
revenue sharing section to reflect our agreements currently in effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>VI. The MFC Subordinated Guarantee: </I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated disclosure about the parent company, MFC, and we have updated the
list of documents incorporated by reference in the section entitled &#147;Where You Can
Find More Information.&#148;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>VII. Federal Tax Matters:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have revised and added disclosure reflecting changes to the tax laws.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>VIII. General Matters:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have made changes of an updating nature to the &#147;Legal Proceedings,&#148; &#147;Legal
Opinions&#148; and &#147;Experts&#148; sections.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>Appendix&nbsp;A &#151; Example of Market Value Adjustment Calculation:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated the Sample Calculations by changing the Guaranteed Rates in the
tables and calculations that follow.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>Appendix&nbsp;B &#151; Withdrawal Charge Schedule:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have updated the Withdrawal Charge Schedules.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><I>Other Revisions:</I></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have made non-substantive revisions, mainly typographical in nature, to the
Prospectus and Part&nbsp;II.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please direct any comments and questions regarding the registration statement to me at (617)
663-3192 or, in my absence, to David Pickett, Senior Counsel &#151; Annuities at (617)&nbsp;663-2203.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Very truly yours,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">/s/ Thomas J. Loftus
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thomas J. Loftus<BR>
Senior Counsel &#151; Annuities

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
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