FUND PARTICIPATION AGREEMENT
THIS AGREEMENT is entered into as of this 15th day of October, 1999 among
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY ("Lincoln National"), a life
insurance company organized under the laws of the State of Indiana, AMERICAN
VARIABLE INSURANCE SERIES ("Series"), an open-end management investment company
organized under the laws of the Commonwealth of Massachusetts, AMERICAN FUNDS
DISTRIBUTORS, INC. ("AFD"), a corporation organized under the laws of the State
of California, and having a business address of 000 Xxxxx Xxxx Xxxxxx, Xxx
Xxxxxxx, Xxxxxxxxxx 9007 1, and CAPITAL RESEARCH AND MANAGEMENT COMPANY
("CRMC"), a corporation organized under the laws of the State of Delaware, and
having a business address of 000 Xxxxx Xxxx Xxxxxx, Xxx Xxxxxxx, Xxxxxxxxxx
00000.
WITNESSETH:
WHEREAS, Lincoln National proposes to issue to the public, now and in the
future, certain multi-manager variable annuity contracts and variable life
insurance policies ("Contracts") as set forth in Appendix A;
WHEREAS, Lincoln National has established one or more separate accounts
("Accounts"), as set forth in Appendix B, for the purposes of issuing the
Contracts and has or will register the Account with the United States Securities
and Exchange Commission ("the SEC") as an unit investment trust under the
Investment Company Act of 1940 ("xxx 0000 Xxx") unless exempt therefrom;
WHEREAS, the Series has received a "Mixed and Shared Funding Order" from
the SEC granting relief from the certain provisions of the 1940 Act and the
rules thereunder to the extent necessary to permit shares of the Series to be
sold to variable annuity and life insurance separate accounts of unaffiliated
insurance companies;
WHEREAS, the Series is divided into various funds ("Funds"), some of
which are set forth in Appendix C, each Fund being subject to certain
fundamental investment policies some of which may not be changed without a
majority vote of the shareholders of such Fund;
WHEREAS, certain Funds will serve as the underlying investments for the
Contracts as set forth in Appendix C;
WHEREAS, AFD, a registered broker-dealer, will provide certain services
to Lincoln National with regard to the Contracts; and
WHEREAS, CRMC is the investment adviser for the Series.
NOW THEREFORE, in consideration of the foregoing and of mutual covenants
and conditions set forth herein and for other good and valuable consideration,
Lincoln National, the Accounts, the Series, AFD and CRMC hereby agree as
follows:
1
1. The Series and CRMC each represents and warrants to Lincoln
National that: (i) a registration statement under the Securities Act of
1933 ("1933 Act") and under the 1940 Act with respect to the Series has
been filed with the SEC in the form previously delivered to Lincoln
National, and copies of any and all amendments thereto will be forwarded
to Lincoln National at the time that they are filed with the SEC; (ii)
the Series is, and shall be at all times while this Agreement is in
force, lawfully organized, validly existing, and properly qualified as an
open-end management investment company; and (iii) the Series registration
statement and any further amendments or supplements thereto will, when
they become effective, conform in all material respects to the
requirements of the 1933 Act and the 1940 Act, and the rules and
regulations of the SEC thereunder, and will not contain an untrue
statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statement therein not
misleading; provided, however, that this representation and warranty
shall not apply to any statements or omissions made in reliance upon and
in conformity with information furnished in writing to the Series by
Lincoln National expressly for use therein.
2. The Series will furnish to Lincoln National such
information with respect to the Series in such form and signed by such of
its officers as Lincoln National may reasonably request, and will warrant
that the statements therein contained when so signed will be true and
correct. The Series will advise Lincoln National immediately of: (a) any
request by the SEC (i) for amendment of the registration statement
relating to the Series or (ii) for additional information; (b) the
issuance by the SEC of any stop order suspending the effectiveness of the
registration statement of the Series or the initiation of any proceeding
for that purpose; (c) the institution of any proceeding, investigation or
hearing involving the offer or sale of the Contracts or the Series of
which it becomes aware; or (d) the happening of any material event, if
known, which makes untrue any statement made in the registration
statement of the Series or which requires the making of a change therein
in order to make any statement made therein not misleading.
3. The Series will use best efforts to register for sale under
the 1933 Act and, if required, under state securities laws, such
additional shares of the Series as may reasonably be necessary for use as
the funding vehicle for the Contracts.
4. The Series agrees to make Class I and Class 2 shares of all
of its Funds available to the Contracts. To the extent Lincoln National
uses Class 2 shares, it will be entitled to a fee from the Series of .25%
per annum of Class 2 assets attributable to the Contracts to offset
Contract marketing expenses for as long as the Series' Rule 12b I plan
remains in effect. Fund shares to be made available to Accounts for the
Contracts shall be sold by the Series and purchased by Lincoln National
for a given Account at the net asset value (without the imposition of a
sales load) next computed after receipt of each order by the Series or
its designee, as established in accordance with the provisions of the
then current prospectus of the Series. For purposes of this Paragraph 4,
Lincoln National shall be a designee of the Series for receipt of such
orders from each Account, and receipt by such designee by 4:00 p.m.
Eastern time shall constitute receipt by the Series only if the net
purchase or redemption orders are transmitted to the Series by Lincoln
National by 10:00 a.m. Eastern time on the day following Lincoln
National's receipt of that information. "Business Day" shall mean any day
on which the New
2
York Stock Exchange ("NYSE") is open for trading and on which the Series
calculates its net asset value pursuant to the rules of the SEC. The
Series will make its shares available indefinitely for purchase at the
applicable net asset value per share on those days on which the Series
calculates its net asset value pursuant to the rules of the SEC, and the
Series shall use its best efforts to calculate such net asset value on
each day on which the NYSE is open for trading. The Series shall make the
net asset value per share for each of the Funds available to Lincoln
National (using a mutually agreed upon format) on a daily basis as soon
as reasonably practical after the Series calculates its net asset value
per share, and the Series shall use its best efforts to make such net
asset value per share available by 6:00 p.m. Eastern time. The Series,
and its investment adviser, CRMC, are responsible for maintaining net
asset values for the Funds in accordance with the requirements of the
1940 Act and its current prospectus. Shares of particular Funds shall be
ordered in such quantities and at such times as determined by Lincoln
National to be necessary to meet the requirements of the Contracts.
Payment for shares purchased shall be made in federal funds transmitted
by wire by 2:00 p.m. Eastern time as long as the banking system is open
for business. If the banking, system is closed, payment will be
transmitted the next day that the banking system is open for business. If
payment is received by the Series after 2:00 p.m., Eastern time on such
Business Day, Lincoln National shall, upon the Series' request, promptly
reimburse the Series for any charges, costs, fees, interest or other
expenses incurred in connection with any advances, borrowing, or
overdrafts. The Series will confirm receipt of each trade (using a
mutually agreed upon format) by 1:00 p.m. Eastern time on the Business
Day the trade is placed with the Series.
The Series reserves the right to temporarily suspend sales if the
Board of Trustees of the Series deems it appropriate and in the best
interests of the Series or in response to the order of an appropriate
regulatory authority.
5. The Contracts funded through the Accounts will provide for
the allocation of net amounts among certain subaccounts for investment in
such shares of the Funds as may be offered from time to time in the
Contracts. The selection of the particular subaccount is to be made by
the Contract owner and such selection may be changed in accordance with
the terms of the Contracts.
6. Transfer of the Series' shares will be by book entry only.
No stock certificates will be issued to the Account. Shares ordered from
a particular Fund will be recorded by the Series as instructed by Lincoln
National in an appropriate title for the corresponding Account or
subaccount.
7. The Series shall furnish notice promptly to Lincoln
National (using a mutually agreed upon format) of any dividend or
distribution payable on any shares underlying subaccounts. Lincoln
National hereby elects to receive all such dividends and distributions as
are payable on shares of a Fund recorded in the title for the
corresponding subaccount in additional shares of that Fund. The Series
shall notify Lincoln National of the number of shares so issued. Lincoln
National reserves the right to revoke this election and to receive all
such income dividends and capital gain distributions in cash.
3
8. The Series shall redeem its shares in accordance with the
terms of its then current prospectus. For purposes of this Paragraph 8,
Lincoln National shall be a designee of the Series for receipt of
requests for redemption from each Account, and receipt by such designee
by 4:00 p.m. Eastern time shall constitute receipt by the Series;
provided that the Series receives notice of such request for redemption
by 10:00 a.m. Eastern time on the following Business Day. Lincoln
National shall purchase and redeem the shares of Funds offered by the
then current prospectus of the Series in accordance with the provisions
of such prospectus. The Series agrees to redeem, upon Lincoln National's
request, any full or fractional shares of the designated portfolio held
by Lincoln National. Payment shall be made in federal funds transmitted
by wire by 2:00 p.m. Eastern time as long as the banking system is open
for business. If the banking system is closed, payment will be
transmitted the next day that the banking system is open for business. If
payment is received by Lincoln Life after 2:00 p.m., Eastern time on such
Business Day, the Series shall, upon Lincoln National's request, promptly
reimburse Lincoln National for any charges, costs, fees, interest or
other expenses incurred in connection with any advances, borrowing, or
overdrafts. The Series will confirm receipt of each trade (using a
mutually agreed upon format) by 1:00 p.m. Eastern time on the Business
Day the trade is placed with the Series.
9. The Series shall pay all expenses incidental to its
performance under this Agreement. The Series shall see to it that all of
its shares are registered and authorized for issue in accordance with
applicable federal and state laws prior to their purchase for the
Accounts. The Series shall bear the expenses for the cost of registration
of its shares, preparation of prospectuses to be sent to existing
Contract owners, proxy materials and reports, the printing and
distribution of such items to each Contract owner who has allocated net
amounts to any Subaccount, the preparation of all statements and notices
required from it by any federal or state law, and taxes on the issue or
transfer of the Series' shares subject to this Agreement. The Series will
provide Lincoln National, at least once a year, with enough copies of its
Statement of Additional Information to be able to distribute one to each
Contract owner or prospective Contract owner who requests such Statement
of Additional Information.
10. Lincoln National shall bear the expenses for the cost of
printing and distribution of Series prospectuses to be sent to
prospective Contract owners. The Series shall provide, at its expense,
such documentation (in camera ready or other mutually agreeable form) and
other assistance as is reasonably necessary in order for Lincoln National
once each year (or more frequently if the prospectus for the Series is
amended) to have the prospectus or prospectuses for the Contracts and the
Series prospectus printed together in one or more documents. With respect
to any Series prospectus that is printed in combination with any one or
more Contract prospectus (the "Prospectus Booklet"), the Series shall
bear the costs of printing and mailing the Prospectus Booklet to existing
Contract owners based on the ratio of the number of pages of the Series
prospectuses included in the Prospectus Booklet to the number of pages in
the Prospectus Booklet as a whole. With respect to any Series report that
is printed in combination with any one or more reports of investment
options for the Contracts (the "Report Booklet"), the Series shall bear
the costs of printing and mailing the Report Booklet to existing Contract
owners based on the ratio of the number of pages of the Series report
included in the Report Booklet to the number of pages in the Report
Booklet as a whole.
4
11. Lincoln National represents and warrants to the Series that
any information furnished in writing by Lincoln National to the Series
for use in the registration statement of the Series will not result in
the registration statement's failing to conform in all material respects
to the requirements of the 1933 Act and the 1940 Act and the rules and
regulations thereunder or containing any untrue statement of a material
fact or omission to state a material fact required to be stated therein
or necessary to make the statements therein not misleading.
12. Lincoln National and its affiliates shall make no
representations concerning the Series' shares except those contained in
the then current prospectus of the Series, in such printed information
subsequently issued on behalf of the Series or other funds managed by
CRMC as supplemental to the appropriate fund prospectus, or in materials
approved by AFD.
13. Shares of the Series may be offered to separate accounts of
various insurance companies in addition to Lincoln National. The Series
shall comply with the provisions of Section 817 of the Internal Revenue
Code of 1986 as amended and the regulations thereunder ("Section 817").
14. The parties to this Agreement recognize that due to
differences in tax treatment or other considerations, the interests of
various Contract owners participating in one or more Funds might, at some
time, be in conflict. Each party shall report to the other party any
potential or existing conflict of which it becomes aware. The Board of
Trustees of the Series shall promptly notify Lincoln National of the
existence of irreconcilable material conflict and its implications. If
such a conflict exists for which Lincoln National is responsible as
determined by the Board of Trustees, Lincoln National will, at its own
expense, take whatever action it deems necessary to remedy such conflict;
in any case, Contract owners will not be required to bear such expenses.
15. Lincoln National agrees to indemnify and hold the Series
harmless against, any and all losses, claims, damages, liabilities or
litigation (including reasonable legal and reasonable other expenses) to
which the Series may be subject under any statute, at common law or
otherwise, insofar as such losses, claims, damages, liabilities or
expenses (or actions in respect thereof) or settlements arise as a result
of Lincoln National: (a) making untrue statements of material facts or
omitting material fact in the registration statement, prospectus or sales
literature of the Contracts and/or Accounts; (b) making untrue statements
of material facts that the Series includes in its materials, provided the
Series relies on information supplied by Lincoln National, (c) engaging
in unlawful conduct with respect to the sale of the Contracts or Fund
shares; and (d) materially breaching this Agreement or a representation
or warranty.
16. The Series and CRMC each agrees to indemnify and hold
Lincoln National harmless against, any and all losses, claims, damages,
liabilities or litigation (Including reasonable legal and reasonable
other expenses) to which Lincoln National may be subject under any
statute, at common law or otherwise, insofar as such losses, claims,
damages, liabilities or expenses (or actions in respect thereof) or
settlements arise as a result of the Series', AFD's or CRMC's (a) making
untrue statements of material facts or omitting material facts in the
registration statement, prospectus or sales literature of the Series; (b)
making untrue statements of material facts that the Series includes in
its materials, provided Lincoln National relies on information supplied
by or on behalf of the Series; (c) engaging in unlawful conduct
5
with respect to the sale of the Contracts or Fund shares; (d) materially
breaching this Agreement or a representation or warranty; and (e) failing
to comply with the requirements of Section 817 and regulations
thereunder.
17. Lincoln National shall be responsible for assuring that the
Accounts provide passthrough voting privileges to Contract owners so long
as and to the extent that the Securities and Exchange Commission
continues to interpret the 1940 Act to require pass through voting
privileges for the Contracts.
18. AFD will be responsible for conducting training activities
for Lincoln National's wholesalers regarding CRMC's approach to
investment management in connection with Lincoln National's wholesaler
support of the Series. Training will include initial sessions as to
CRMC's investment approach and strategies, background in CRMC's
investment results, information on CRMC's portfolio counselors managing
the Series and general information on CRMC. AFD will provide such
periodic additional training and refresher training as may be requested
by Lincoln National. AFD will provide speakers and panelists at national
sales meetings conducted by Lincoln National regarding the Series.
In consideration of the activities performed by AFD for Lincoln
National, Lincoln National will pay AFD .25% on each new Contract
purchase payment.
19. The parties understand that there is no intention to create
a joint venture in the subject matter of this Agreement. Accordingly, the
right to terminate this Agreement and to engage in any activity not
inconsistent with this Agreement is absolute. This Agreement will
terminate:
(i) By any party at any time upon six months' written
notice to the other parties; or
(ii) at the option of Lincoln National or the Series,
upon ten calendar days' prior written notice to the
other parties, if a final non-appealable
administrative or judicial decision is entered
against any other party which has a material impact
on the Contracts;
(iii) at the option of Lincoln National, upon ten calendar
days' prior written notice to the other parties, if
shares of the Series are not reasonably available;
(iv) at the option of Lincoln National, immediately upon
written notice to the other parties, if the Series
or CRMC falls to meet the requirements for either
diversification under Section 817 or registered
investment company status or if the Board of the
Series terminates the Class 2 Plan of Distribution
pursuant to Rule 12b-I under the 1940 Act; or
(v) immediately in the event the Series' shares are not
registered, issued or sold in accordance with
applicable state and/or federal law or such law
6
precludes the use of such shares as an underlying
investment for the Contracts issued or to be issued
by Lincoln National; in such event prompt notice
shall be given by Lincoln National or the Series to
the other parties.
The effective date for termination pursuant to any notice required
under this Paragraph shall be calculated beginning with the date of
receipt of such notice to all other parties.
20. All notices, consents, waivers, and other communications
under this Agreement must be in writing, and will be deemed to have been
duly received (a) when delivered by hand (with written confirmation of
receipt), (b) when sent by facsimile (with written confirmation of
receipt), provided that a copy is mailed by registered mail, return
receipt requested, or (c) the day after it is sent by a nationally
recognized overnight delivery service, in each case to the appropriate
addresses and telecopier numbers set forth below (or to such other
addresses and telecopier numbers as a party may designate by notice to
the other parties):
IF TO LINCOLN NATIONAL:
The Lincoln National Insurance Company
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
Attention: Xxxxxx X. Xxxxxxx, Second Vice President
Facsimile No.: 000-000-0000
IF TO SERIES:
American Variable Insurance Series
000 X. Xxxx Xxxxxx, 55 th Floor
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Attention: Xxxxxxx X. Xxxxxx, Senior Vice President
Facsimile No.: 000-000-0000
IF TO CRMC:
Capital Research and Management Company
000 X. Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxx, XX 00000
Attention: Xxxxxxx X. Xxxxxx, Senior Vice President and Legal
Counsel
Facsimile No.: 000-000-0000
IF TO AFD:
American Funds Distributors, Inc.
000 X. Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Attention: Xxxxxxx X. Xxxxxx, Secretary and Legal Counsel
Facsimile No.: 000-000-0000
21. If this Agreement terminates, any provision of this
Agreement necessary to the orderly windup of business under it will
remain in effect as to that business, after termination.
7
22. If this Agreement terminates, the Series, at Lincoln
National's option, will continue to make additional shares of the Series
available for all Contracts existing as of the effective date of
termination (under the same terms and conditions as were in effect prior
to termination of this Agreement with respect to existing Contract
owners), unless the Series liquidates or applicable laws prohibit further
sales. Lincoln National agrees not to redeem shares unless legitimately
required to do so according to a Contract owner's request or under an
order from the SEC.
23. The obligations of the Series under this Agreement are not
binding upon any of the Trustees, officers, employees, or shareholders
(except CRMC if it is a shareholder) of the Series individually, but bind
only the Series' assets. When seeking satisfaction for any liability of
the Series in respect of this Agreement, Lincoln National and the Account
agree not to seek recourse against said Trustees, officers, employees, or
shareholders, or any of them, or any of their personal assets for such
satisfaction. Notwithstanding the foregoing, if Lincoln National seeks
satisfaction for the Series for any losses, claims, damages, liabilities
or litigation in respect of this Agreement, Lincoln National and the
Accounts shall also have recourse against AFD and CRMC which shall be
jointly and severally liable for all amounts due Lincoln National and not
recovered from the Series.
24. This Agreement shall be construed in accordance with the
laws of the State of California.
25. This Agreement and the parties' rights, duties, and
obligations under this Agreement are not transferable or assignable by
any of them without the express, prior written consent of the other party
hereto. Any attempt by a party to transfer or assign this Agreement or
any of its rights, duties or obligations under this Agreement without
such consent is void.
26. The following Paragraphs shall survive any termination of
this Agreement: 4, 7, 8, 15, 16, 19, 20-25.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be duly executed and attested as of the date first above written.
THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY (ON BEHALF OF THE
ACCOUNTS AND ITSELF)
Attest: /s/ Xxxxxx X. Xxxxxxx By: /s/ Xxxxx X. Xxxxxxxxx
Its:
8
AMERICAN VARIABLE INSURANCE
SERIES
Attest: /s/ Xxxx X. Xxxxxx
By: /s/ Xxxxxxx Xxxxxx
Its: Senior Vice President
AMERICAN FUNDS DISTRIBUTORS, INC.
Attest: /s/ Xxxx X. Xxxxxx
By: /s/ K.G. Xxxxxxxx
Its: President
CAPITAL RESEARCH AND MANAGEMENT
COMPANY
Attest: /s/ Xxxx X. Xxxxxx
By: /s/ Xxxx X. Xxxxx, Xx.
Its: Executive Vice President
9
Appendix A
Lincoln VUL
Lincoln VULdb
Lincoln CVUL D
L ChoicePlus variable annuity
MultiFund individual variable annuity
MultiFund group variable annuity Lincoln SVUL
Appendix B
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account N
Lincoln National Variable Annuity Account C
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Appendix C
American Variable Insurance Series
Global Growth Fund Class 2
Global Small Capitalization Fund Class 2
International Fund Class 2
Growth Fund Class 2
Growth Income Fund Class 2
High Yield Bond Fund Class 2
10
AMENDMENT
Effective Date: May 1, 2000
APPENDIX A
Lincoln VULcv
Lincoln VULdb
Lincoln CVUL
Lincoln CVUL Series III
D-L ChoicePlus variable annuity
MultiFund individual variable annuity
MultiFund group variable annuity
Lincoln SVUL
Lincoln SVUL II
Group Variable Annuity (GVA) I, II, III
APPENDIX B
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account N
Lincoln National Variable Annuity Account C
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Separate Account R
Lincoln National Variable Annuity Account L
APPENDIX C
American Variable Insurance Series
Global Growth Fund Class 2
Global Small Capitalization Fund Class 2
International Fund Class 2
Growth Fund Class 2
Growth-Income Fund Class 2
High-Yield Bond Fund Class 2
Bond Fund Class 2
U.S. Government/AAA-Rated Securities Fund Class 2
THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY (ON BEHALF OF THE
ACCOUNTS AND ITSELF)
Attest:
By: /s/ Xxxxxx X. Xxxxxxx
/s/ Xxxxx Xxxxxx --------------------------------
--------------------------- Its: 2nd Vice President, Xxxxxx X. Xxxxxxx
AMERICAN VARIABLE INSURANCE
SERIES
Attest:
By: /s/ Xxxxxxx X. Xxxxxx
/s/ Xxxx X. Xxxxxx --------------------------------
--------------------------- Its: Senior Vice President, Xxxxxxx X. Xxxxxx
AMERICAN FUNDS DISTRIBUTORS,
INC.
Attest:
By: /s/ Xxxxx X. Xxxxxxxx
/s/ Xxxx X. Xxxxxx --------------------------------
--------------------------- Its: President, Xxxxx X. Xxxxxxxx
CAPITAL RESEARCH AND
MANAGEMENT COMPANY
Attest:
By: /s/ Xxxx X. Xxxxx, Xx.
/s/ Xxxx X. Xxxxxx --------------------------------
--------------------------- Its: Executive Vice President,
Xxxx X. Xxxxx, Xx.
3912
AMENDMENT
---------
Effective Date: July 15, 2000
Appendix A
----------
Lincoln VULcv
Lincoln VULdb,
Lincoln CVUL
Lincoln CVUL Series III
Lincoln ChoicePlus variable annuity
Lincoln ChoicePlus Access
Lincoln ChoicePlus Bonus
MultiFund individual variable annuity
MultiFund group variable annuity
Lincoln SVUL
Lincoln SVUL II
Group Variable Annuity (GVA) I, II, III
Appendix B
----------
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account N
Lincoln National Variable Annuity Account C
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Separate Account R
Lincoln National Variable Annuity Account L
Appendix C
----------
American Variable Insurance Series
Global Growth Fund Class 2
Global Small Capitalization Fund Class 2
International Fund Class 2
Growth Fund Class 2
Growth-Income Fund Class 2
High-Yield Bond Fund Class 2
Bond Fund Class 2
U.S. Government/AAA-Rated Securities Fund Class 2
THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY (ON BEHALF OF THE
ACCOUNTS AND ITSELF)
Attest: /s/ Xxxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxxxx
Its: 2nd Vice President, Xxxxxx X.
Xxxxxxx
AMERICAN FUNDS INSURANCE SERIES
Attest: /s/ Xxxx Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
Its: Senior Vice President, Xxxxxxx X.
Xxxxxx
AMERICAN FUNDS DISTRIBUTORS, INC.
Attest: /s/ Xxxx Xxxxxx By: /s/ Xxxxx X. Xxxxxxxx
Its: President, Xxxxx X. Xxxxxxxx
CAPITAL RESEARCH AND MANAGEMENT COMPANY
Attest: /s/ Xxxx Xxxxxx By: /s/ Xxxx X. Xxxxx, Xx.
Its: Executive Vice President
3912
AMENDMENT
---------
Effective Date: July 15, 2000
SCHEDULE 1
----------
Variable Annuity Contracts:
American Legacy II
American Legacy III
American Legacy III C-Share
American Legacy III Plus
American Legacy Shareholder's Advantage
THE LINCOLN NATIONAL LIFE INSURANCE
COMPANY (ON BEHALF OF THE ACCOUNTS
AND ITSELF)
Attest:
/s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxxxx
------------------- ------------------------------
Its: 2nd Vice President,
Xxxxxx X. Xxxxxxx
AMERICAN VARIABLE INSURANCE SERIES
Attest:
/s/ Xxxx Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
--------------- ------------------------------
Its: Senior Vice President,
Xxxxxxx X. Xxxxxx
AMERICAN FUNDS DISTRIBUTORS, INC.
Attest:
/s/ Xxxx Xxxxxx By: /s/ Xxxxx X. Xxxxxxxx
--------------- ------------------------------
Its: President, Xxxxx X. Xxxxxxxx
CAPITAL RESEARCH AND MANAGEMENT COMPANY
Attest:
/s/ Xxxx Xxxxxx By: /s/ Xxxx X. Xxxxx, Xx.
--------------- ------------------------------
Its: Executive Vice President,
Xxxx X. Xxxxx, Xx.