Exhibit 8(d)(x)
AMENDMENT NO. 12 TO FUND PARTICIPATION AGREEMENT
THIS AMENDMENT NO. 12 TO FUND PARTICIPATION AGREEMENT ("Amendment") is
made as of this _1___ day of November, 2009 by and between JEFFERSON NATIONAL
LIFE INSURANCE COMPANY (the "Company") and AMERICAN CENTURY INVESTMENT SERVICES,
INC. (the "Distributor"). Capitalized terms not otherwise defined herein shall
have the meaning ascribed to them in the Agreement (defined below).
RECITALS
WHEREAS, the Company and Distributor are parties to a certain Fund
Participation Agreement dated April 30, 1997, as amended November 15, 1997,
December 31, 1997, January 13, 2000, February 9, 2001, July 31, 2003, March 26,
2004, March 29, 2004, May 1, 2005, May 1, 2006, May 1, 2007 and December 1, 2007
(the "Agreement) in connection with the participation of the Funds in Contracts
offered by the Company;
WHEREAS, the parties have agreed to amend the Agreement to make additional
Funds available as investment options under the Agreement; and
WHEREAS, in connection with the additional Funds made available, the
parties have agreed to revise the reimbursement terms; and
WHEREAS, the parties to this Amendment now desire to modify the Agreement
as provided herein.
NOW, THEREFORE, in consideration of the mutual promises set forth herein,
the parties hereto agree as follows:
1. Funds Available. The second recital of the Agreement is hereby deleted
in its entirety and replaced with the following language:
"WHEREAS, the Company wishes to make available as investment options
under the Contracts, one or more of the funds identified in Exhibit B
attached hereto (the "Funds"), each of which is a series of mutual fund
shares registered under the Investment Company Act of 1940, as amended,
and issued by a registered investment company (each an "Issuer" and
collectively, the "Issuers"); and"
2. Compensation and Expenses. Section 5 is hereby deleted in its entirety
and the following Section 5 is substituted in lieu thereof:
"(a) Certain of the Funds have adopted distribution contracts pursuant to which
Distributor, on behalf of each such Fund, will pay a service fee to
dealers in accordance with the provisions of such Funds' distribution
contracts for the Class II shares. The service fee is paid as additional
consideration for all personal services, account maintenance services
and/or Distribution Services provided by the
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broker/dealer of record to shareholders of the applicable Fund. The
provisions and terms of these Funds' distribution contracts are described
in their respective prospectuses, and the Company hereby agrees that
Distributor has made no representations with respect to the distribution
contracts of such Funds in addition to, or conflicting with, the
description set forth in their respective prospectuses. The fee for each
class of Shares of the Funds will be set by Distributor based on the
relevant distribution contracts.
"(b) Distributor acknowledges that it will derive a substantial savings in
administrative expenses, such as a reduction in expenses related to
postage, shareholder communications and recordkeeping, by virtue of having
a single shareholder account per Fund for the Accounts rather than having
each Contract owner as a shareholder. In consideration of performance of
the Administrative Services by the Company, Distributor will pay the
Company a fee (the "Administrative Services Fee") attached as Exhibit B
under this Agreement.
"(c) For the purposes of computing the payments to the Company contemplated by
this Section 5, the average aggregate amount invested by the Company on
behalf of the Accounts in the Funds over a one month period shall be
computed by totaling the Company's aggregate investment (share net asset
value multiplied by total number of shares of the Funds held by the
Company) on each calendar day during the month and dividing by the total
number of calendar days during such month.
"(d) Distributor will calculate the amount of the payments to be made pursuant
to this Section 5 at the end of each calendar quarter and will make such
payment to the Company within 30 days thereafter. The check for such
payments will be accompanied by a statement showing the calculation of the
amounts being paid by Distributor for the relevant months and such other
supporting data as may be reasonably requested by the Company and shall be
mailed to:
Jefferson National Life Insurance Company
0000 Xxxxxxxxx Xxxxxx Xxxxx, Xxxxx 0000
Attention: Separate Accounts
Phone No.: (000) 000-0000
Fax No.: (000) 000-0000"
3. Schedule A. Schedule A is hereby deleted in its entirety and the
attached Schedule A is inserted in lieu thereof.
4. Ratification and Confirmation of Agreement. In the event of a conflict
between the terms of this Amendment No. 12 and the Agreement, it is the
intention of the parties that the terms of this Amendment No. 12 shall control
and the Agreement shall be interpreted on that basis. To the extent the
provisions of the Agreement have not been amended by this Amendment No. 12, the
parties hereby confirm and ratify the Agreement.
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5. Counterparts. This Amendment No. 12 may be executed in two or more
counterparts, each of which shall be an original and all of which together shall
constitute one instrument.
6. Full Force and Effect. Except as expressly supplemented, amended or
consented to hereby, all of the representations, warranties, terms, covenants
and conditions of the Agreement shall remain unamended and shall continue to be
in full force and effect.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
date first above written.
JEFFERSON NATIONAL LIFE AMERICAN CENTURY
INSURANCE COMPANY INVESTMENT SERVICES, INC.
By: ______________________________ By: ______________________________
Name: Name:
Title: Title:
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EXHIBIT B
Rate for Non-Monument Rate for Monument
Fund Class Advisor Assets Advisor Assets
---- ----- -------------- --------------
VP Balanced I 35 bps 35 bps
VP Income & Growth I 25 bps 35 bps
VP Inflation Protection II 5 bps 10 bps
VP International I 25 bps 35 bps
VP Large Company Value I 25 bps 35 bps
VP Mid Cap Value I 25 bps 35 bps
VP Ultra I 25 bps 35 bps
VP Value I 25 bps 35 bps
VP Vista I 25 bps 35 bps
Note: all funds not available in all products, and some funds are available in
Monument Advisor only.
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SCHEDULE A
ACCOUNTS, CONTRACTS AND PORTFOLIOS
SUBJECT TO THE PARTICIPATION AGREEMENT
--------------------------------------
====================================================================================================================================
Name of Separate Portfolios and
Account and Date Contracts Funded Class of Shares
Established by Board of Directors by Separate Account Available to Contracts
====================================================================================================================================
Jefferson National Life Annuity Account C 1980 CVIC-2000 VP Income & Growth Fund (Class I)
Jefferson National Life Annuity Account E November 12, 1993 CVIC-2001
Jefferson National Life Annuity Account F September 26, 1997 CVIC-2004 VP Inflation Protection Fund (Class II)
Jefferson National Life Annuity Account G January 18, 1996 CVIC-2005
Jefferson National Life Annuity Account H November 1, 1999 22-4056 VP International Fund
Jefferson National Life Annuity Account I August 23, 2000 22-4025 (Class I)
Jefferson National Variable Account L February 22, 2000 32-4000
Jefferson National Life Annuity Account J November 3, 2003 32-4002 VP Large Company Value (Class I)
Jefferson National Life Annuity Account K November 3, 2003 32-4003
22-4047 VP Value Fund (Class I)
22-4048
22-4061 VP Balanced Fund (Class I)
JNL-2100
JNL-2200 VP Vista (Class I)
JNL-2300
JNL-2300-1 VP Ultra (Class I)
JNL-2300-2
Including state
variations of VP Mid Cap Value (Class I)
these forms
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Note: all funds not available in all products, and some funds are available in
Monument Advisor only.
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