Common use of PARTICIPANT DIRECTED EXCHANGES TO A COMPANION INVESTMENT OPTION WHICH IS NOT A COMPETING FIXED INVESTMENT Clause in Contracts

PARTICIPANT DIRECTED EXCHANGES TO A COMPANION INVESTMENT OPTION WHICH IS NOT A COMPETING FIXED INVESTMENT. The Authorized Representative, Participants, or any designee may initiate exchanges from the Guaranteed Fund to a Companion Investment Option which is not a Competing Fixed Investment, subject to limitations described below. Exchanges will be processed within one Business Day via electronic means acceptable to Nationwide and three Business Days following receipt in the required format of Written Communications. By providing Written Communication or permitting Participants to initiate such transactions via a voice response system or the Internet, the Contract Owner certifies that such transactions are permitted under the Plan. For purposes of this section, exchanges initiated by a Third Party Asset Manager will not be considered Participant directed exchanges and instead will be subject to the terms and conditions specified in Section 4.3 of this Contract. Exchanges may be subject to limitations imposed by the Companion Investment Option, if applicable. Exchanges shall be made by withdrawing 100% of the amount to be exchanged from the Guaranteed Fund and crediting the amount to the Companion Investment Option. If the Plan has a Competing Fixed Investment(s), then the Plan agrees to disallow any exchanges to any Competing Fixed Investment during the Competing Fixed Restriction Period following any employee directed exchanges to a Companion Investment Option which is not a Competing Fixed Investment. SAMPLE