EXHIBIT 8(b)(XII)
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") between
Xxxxx Fargo Variable Trust (the "Series"), Xxxxx Fargo Funds Distributor, LLC
("WFFD") and The Lincoln National Life Insurance Company and Lincoln Life &
Annuity Company of New York ("Company") dated January 1, 2008, as amended
from time to time, is effective this 4th day of April, 2012. All capitalized
terms used herein and not otherwise defined shall have the meaning ascribed
to such term in the Agreement.
WHEREAS, the Series and Company agree to distribute the prospectuses of
the funds within the Series pursuant to Rule 498 of the Securities Act of
1933 ("Rule 498"); and
WHEREAS, the parties desire to set out the roles and responsibilities
for complying with Rule 498 and other applicable laws.
NOW THEREFORE, in consideration of the mutual covenants hereinafter set
forth, and intending to be legally bound, the Agreement is hereby amended as
follows:
1. For purposes of this Amendment, the terms Summary Prospectus and
Statutory Prospectus shall have the same meaning as set forth in
Rule 498.
2. The Series represents and wal1'ants that the Summary Prospectuses
and the hosting of such Summary Prospectuses will comply in all
material respects with the requirements of Rule 498 applicable to
the Series and its fund.
3. The Series agrees that the url indicated on each Summary Prospectus
will lead contract owners directly to the web page used for hosting
Summary Prospectuses and that such web page will host the current
Series and fund documents required to be posted in compliance with
rule 498.
4. The Series and WFFD represent and warrant that they will be
responsible for compliance with the provisions of Rule 498(f)(i)
involving contract owner requests for additional Fund documents made
directly to the Series, WFFD or one of their affiliates.
5. Each party agrees to notify the other party within 24 hours of a
failure to comply with the provisions of Rule 498.
6. Company represents and warrants that any bundling of Summary
Prospectuses and Statutory Prospectuses will be done in compliance
with Rule 498.
7. Series (or other fund related party) may provide web links or url's
to the Company for use with Company's electronic delivery of fund
documents or on the Company's website. Company will be solely
responsible for the maintenance of such web links. Series ( or
affiliate) will be responsible for maintaining the Series' and
funds' current documents on the site to which such web links or
url's originally navigate to.
8. The parties agree that all other provisions of the Participation
Agreement, including the Indemnification provisions, will apply to
the terms of this Amendment as applicable.
9. The parties agree that Insurance Company is not required to
distribute Summary Prospectuses to its contract owners, but rather
use of the Summary Prospectus will be at the discretion of Insurance
Company.
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment
to be executed in its name and behalf by its duly authorized officer.
XXXXX FARGO VARIABLE TRUST
By: /s/ Xxxxxx Xxxx
Xxxxxx Xxxx
Its: Assistant Secretary
XXXXX FARGO FUNDS DISTRIBUTOR, LLC
By: /s/ Xxxxx Xxxxx
Xxxxx Xxxxx
Its: Senior Vice President
THE LINCOLN NATIONAL
LIFE INSURANCE COMPANY
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
Its: Vice President
LINCOLN LIFE & ANNUTIY COMPANY OF NEW YORK
/s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx
Its: Vice President
