SECOND AMENDMENT TO PARTICIPATION AGREEMENT

Exhibit 8(b)(iv)(b)

SECOND AMENDMENT TO PARTICIPATION AGREEMENT

This Second Amendment dated as of April 26, 2011 to the Participation Agreement (the “Agreement”), effective May 1, 2011, between XXXXX FARGO VARIABLE TRUST (the “Trust”); XXXXX FARGO FUNDS DISTRIBUTOR, LLC (the “Distributor”); THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (the “Company”); and LINCOLN FINANCIAL DISTRIBUTORS, INC, (the “Insurance Underwriter”).

Schedules 3 and 4 of the Agreement are hereby deleted in their entirety and replaced with the following:

Schedule 3

Private Placement Accounts of the Company

Investing in the Trust

Effective as of the date this Amendment to the Participation Agreement was executed, the following separate accounts of the Company are subject to the Agreement:

Name of Account	Date Established by Board of Directors of the Company	Type of Product Supported by Account
Lincoln Life Variable Life Account Z	July 30, 2003	Private Placement VUL

Classes of Contracts

Supported by Separate Accounts

Listed on Schedule 3

Effective as of the date this Amendment to the Participation Agreement was executed, the following classes of Contracts are subject to the Agreement:

Marketing Name	Contract Form Number	Annuity or Life
Private Placement VUL	LN940	Life

Schedule 4

Trust Share Series and Classes

Available Under

Each Class of Contracts

As of the effective date of this Amendment to the Participation Agreement, the following Trust Classes and Series

are available under the Contracts:

Contract Marketing Name	Fund/Series - Share Classes
MultiFund 5	Xxxxx Fargo Advantage VT Intrinsic Value Fund (Class 2) Xxxxx Fargo Advantage VT Omega Growth Fund (Class 2) Xxxxx Fargo Advantage VT Small Cap Growth Fund (Class 2)
Xxxxx Fargo New Directions Core Xxxxx Fargo New Directions Access Xxxxx Fargo New Directions Access 4	Xxxxx Fargo Advantage VT Index Asset Allocation Fund (Class 2) Xxxxx Fargo Advantage VT Intrinsic Value Fund (Class 2) Xxxxx Fargo Advantage VT Small Cap Growth Fund (Class 1 and Class 2) Xxxxx Fargo Advantage VT International Equity (Class 2) Xxxxx Fargo Advantage VT Omega Growth Fund (Class 1 and Class 2) Xxxxx Fargo Advantage VT Total Return Bond Fund (Class 2) Xxxxx Fargo Advantage VT Core Equity Fund (Class 2)
Private Placement VUL	Xxxxx Fargo Advantage VT Small Cap Growth Fund (Class 1) Xxxxx Fargo Advantage VT Small Cap Value Fund (Class 1)

All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.

Effective Date: May 1, 2011

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY	LINCOLN FINANCIAL DISTRIBUTORS, INC.
By: /s/ Xxxxxx X. Xxxxx Name: Xxxxxx X. Xxxxx Title: Vice President	By: /s/ Xxxxxx X’Xxxxx Name:  Xxxxxx X’Xxxxx Title: Vice President
XXXXX FARGO FUNDS DISTRIBUTOR, LLC	XXXXX FARGO VARIABLE TRUST
By: /s/ Xxxxx Xxxxx Name: Xxxxx Xxxxx Title: Senior Vice President	By: /s/ Xxxxx Xxxxxxxx Name: Xxxxx Xxxxxxxx Title:  Treasurer