PARTICIPATION AGREEMENT
AMONG
DELAWARE GROUP PREMIUM FUND, INC.
AND
LINCOLN NATIONAL LIFE INSURANCE CO.
AND
DELAWARE DISTRIBUTORS, LP
THIS AGREEMENT, made and entered into this Ist day of May, 1996, by and
between DELAWARE GROUP PREMIUM FUND, INC., a corporation organized under the
laws of Maryland (the "Fund"), and LINCOLN NATIONAL LIFE INSURANCE CO., an
Indiana insurance corporation (the "Company"), on its own behalf and on behalf
of each separate account of the Company named in Schedule I to this Agreement as
in effect at the time this Agreement is executed and such other separate
accounts that may be added to Schedule I from time to time in accordance with
the provisions of Article XI of this Agreement (each such account referred to as
the "Account"), and DELAWARE DISTRIBUTORS, LP, a Delaware limited partnership
(the "Distributor").
WHEREAS, the Fund is engaged in business as an open-end management
investment company and was established for the purpose of serving as the
investment vehicle for separate accounts established for variable life insurance
policies and variable annuity contracts (collectively referred to as "Variable
Insurance Products," the owners of such products being referred to as "Product
owners") to be offered by insurance companies which have entered into
participation agreements with the Fund ("Participating Insurance Companies");
and
WHEREAS, the common stock of the Fund (the "Fund shares") consists of
separate series ("Series") issuing separate classes of shares ("Series shares"),
each such class representing an interest in a particular managed portfolio of
securities and other assets-, and
WHEREAS, the Fund filed with the Securities and Exchange Commission (the
"SEC") and the SEC has declared effective a registration statement (referred to
herein as the "Fund Registration Statement" and the prospectus contained
therein, or filed pursuant to Rule 497 under the 1933 Act, referred to herein as
the "Fund Prospectus") on Form N-lA to register itself as an open-end management
investment company (File No. 811-5162) under the Investment Company Act of 1940,
as amended (the " 1940 Act"), and the Fund shares (File No. 3 3 -143 63) under
the Securities Act of 1933, as amended (the "1933 Act"); and
WHEREAS, the Company has filed a registration statement with the SEC to
register under the 1933 Act certain variable annuity contracts described in
Schedule 2 to this Agreement as in effect at the time this Agreement is executed
and such other variable annuity contracts and variable life insurance policies
which may be added to Schedule 2 from time to time in accordance with Article XI
of this Agreement (such policies and contracts shall be referred to herein
collectively as the "Contracts," each such registration statement for a class or
classes of contracts
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listed on Schedule 2 being referred to as the "Contracts Registration Statement"
and the prospectus for each such class or classes being referred to herein as
the "Contracts Prospectus," and the owners of the such contracts, as
distinguished from all Product Owners, being referred to as "Contract Owners");
and
WHEREAS, each Account, a validly existing separate account, duly authorized
by resolution 'of the Board of Directors of the Company on the date set forth on
Schedule 1, sets aside and invests assets attributable to the Contracts; and
WHEREAS, the Company has registered or will have registered each Account
with the SEC as a unit investment trust under the 1940 Act before any Contracts
are issued by that Account; and
WHEREAS, the Distributor is registered as a broker-dealer with the SEC
under the Securities Exchange Act of 1934, as amended (the "1934 Act"), and is a
member in good standing of the National Association of Securities Dealers, Inc.
(the "NASD"); and
WHEREAS, the Distributor and the Fund have entered into an agreement (the
"Fund Distribution Agreement") pursuant to which the Distributor will distribute
Fund shares; and
WHEREAS, Delaware Management Company, Inc. (the "Investment Manager") is
registered as an investment adviser under the 1940 Act and any applicable state
securities laws and serves as an investment manager to the Fund pursuant to an
agreement; and
WHEREAS, to the extent permitted by applicable insurance laws and
regulations, the Company intends to purchase Series shares on behalf of each
Account to fund its Contracts and the Distributor is authorized to sell such
Series shares to unit investment trusts such as the Accounts at net asset value;
NOW, THEREFORE, in consideration of their mutual promises, the Company, the
Fund and the Distributor agree as follows:
ARTICLE 1. SALE OF FUND SHARES
1. 1. The Distributor agrees to sell to the Company those Series shares
which the Company orders on behalf of the Account, executing such orders on a
daily basis in accordance with Section 1.4 of this Agreement.
1.2. The Fund agrees to make the shares of its Series available for
purchase by the Company on behalf of the Account at the then applicable net
asset value per share on Business Days as defined in Section 1.4 of this
Agreement, and the Fund shall use its best efforts to calculate such net asset
value by 6:00 p.m., E.S.T., on each such Business Day. Notwithstanding any other
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provision in this Agreement to the contrary, the Board of Directors of the Fund
(the "Fund Board") may suspend or terminate the offering of Fund shares of any
Series, if such action is required by law or by regulatory authorities having
jurisdiction or if, in THE SOLE discretion of THE FUND BOARD acting in good
faith and in light of its fiduciary duties under Federal and any applicable
state laws, suspension or termination is necessary and in the best interests of
the shareholders of any Series (it being understood that "shareholders" for this
purpose shall mean Product owners).
1.3. The Fund agrees to redeem, at the Company's request, any full or
fractional shares of the Fund held by the Account or the Company, executing such
requests at the net asset value on a daily basis in accordance with Section 1.4
of this Agreement, the applicable provisions of the 1940 Act and the then
currently effective Fund Prospectus. Notwithstanding the foregoing, the Fund may
delay redemption of Fund shares of any Series to the extent permitted by the
1940 Act, any rules, regulations or orders thereunder, or the then currently
effective Fund Prospectus.
1.4.
(a) For purposes of Sections 1. 1, 1.2 and 1.3, the Company shall be
the agent of the Fund for the limited purpose of receiving redemption and
purchase requests from the Account (but not from the general account of the
Company), and receipt on any Business Day by the Company as such limited
agent of the Fund prior to the time prescribed in the current Fund
Prospectus (which as of the date of execution of this Agreement is 4 p.m.,
E.S.T.) shall constitute receipt by the Fund on that same Business Day,
provided that the Fund receives notice of such redemption or purchase
request by 11:00 a.m., E.S.T. on the next following Business Day. For
purposes of this Agreement, "Business Day" shall mean any day on which the
New York Stock exchange is open for trading.
(b) The Company shall pay for shares of each Series on the same day
that it places an order with the Fund to purchase those Series shares for
an Account. Payment for Series shares will be made by the Account or the
Company in Federal Funds transmitted to the Fund by wire to be received by
11: 00 a.m., E. S. T. on the day the Fund is properly notified of the
purchase order for Series shares. If Federal Funds are not received on
time, such funds will be invested, and Series shares purchased thereby will
be issued, as soon as practicable.
(c) Payment for Series shares redeemed by the Account or the Company
will be made in Federal Funds transmitted to the Company by wire on the day
the Fund is notified of the redemption order of Series shares, except that
the Fund reserves the right to delay payment of redemption proceeds, but in
no event may such payment be delayed longer than the period permitted under
Section 22(e) of the 1940 Act. Neither the Fund nor the Distributor shall
bear any responsibility whatsoever for the proper disbursement or crediting
of redemption proceeds; the Company alone shall be responsible for such
action.
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1.5. Issuance and transfer of Fund shares will be by book entry only. Stock
certificates will not be issued to the Company or the Account. Purchase and
redemption orders for Fund shares will be recorded in an appropriate ledger for
the Account or the appropriate subaccount of the Account.
1.6. The Fund shall furnish notice as soon as reasonably practicable to the
Company of any income dividends or capital gain distributions payable on any
Series shares. The Company, on its behalf and on behalf of the Account, hereby
elects to receive all such dividends and distributions as are payable on any
Series shares in the form of additional shares of that Series. The Company
reserves the right, on its behalf and on behalf of the Account, to revoke this
election and to receive all such dividends in cash. The Fund shall notify the
Company of the number of Series shares so issued as payment of such dividends
and distributions.
1.7. The Fund shall use its best efforts to make the net asset value per
share for each Series available to the Company by 6 p.m., E.S.T. each Business
Day, and in any event, as soon as reasonably practicable after the net asset
value per share for such Series is calculated, and shall calculate such net
asset value in accordance with the then currently effective Fund Prospectus.
Neither the Fund, any Series, the Distributor, nor the Investment Manager nor
any of their affiliates shall be liable for any information provided to the
Company pursuant to this Agreement which information is based on incorrect
information supplied by the Company to the Fund, the Distributor or the
Investment Manager.
1.8.
(a) The Company may withdraw the Account's investment in the Fund
or a Series only: (I) necessary to facilitate Contract owner requests; (ii)
upon a determination by a majority of the Fund Board, or a majority of
disinterested Fund Board members, that an irreconcilable material conflict
exists among the interests of (x) any Product Owners or (y) the interests
of the Participating Insurance Companies investing in the Fund; (iii) upon
requisite vote of the Contractowners having an interest in the affected
Series to substitute the shares of another investment company for Series
shares in accordance with the terms of the Contracts; (iv) as required by
state and/or federal laws or regulations or judicial or other legal
precedent of general application; or (v) at the Company's sole discretion,
pursuant to an order of the SEC under Section 26(b) of the 1940 Act.
(b) The parties hereto acknowledge that the arrangement contemplated
by this Agreement is not exclusive and that the Fund shares may be sold to
other insurance companies (subject to Section 1.9 hereof) and the cash
value of the Contracts may be invested in other investment companies.
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(c) The Company shall not, without prior notice to the Distributor
(unless otherwise required by applicable law), take any action to operate
the Account as a management investment company under the 0000 Xxx.
1.9. The Fund and the Distributor agree that Fund shares will be sold only
to Participating Insurance Companies and their separate accounts. The Fund and
the Distributor will not sell Fund shares to any insurance company or separate
account unless an agreement complying with Article VII of this Agreement is in
effect to govern such sales. No Fund shares of any Series will be sold to the
general public.
ARTICLE H. REPRESENTATIONS AND WARRANTIES
2.1. The Company represents and warrants (a) that the Contracts are
registered under the 1933 Act or will be so registered before the issuance
thereof, (b) that the Contracts will be issued in compliance in all material
respects with all applicable Federal and state laws and (c) that the Company
will require of every person distributing the Contracts that the Contracts be
offered and sold in compliance in all material respects with all applicable
Federal and state laws. The Company further represents and warrants that it is
an insurance company duly organized and validly existing under applicable law
and that it has legally and validly authorized each Account as a separate
account under Section 27-1-5-1 of the Indiana Insurance Code, and has registered
or, prior to the issuance of any Contracts, will register each Account as a unit
investment trust in accordance with the provisions of the 1940 Act to serve as a
separate account for its Contracts, and that it will maintain such registrations
for so long as any Contracts issued under them are outstanding
2.2. The Fund represents and warrants that Fund shares sold pursuant to
this Agreement shall be registered under the 1933 Act and duly authorized for
issuance in accordance with applicable law and that the Fund is and shall remain
registered under the 1940 Act for so long as the Fund shares are sold. The Fund
further represents and warrants that it is a corporation duly organized and in
good standing under the laws of Maryland.
2.3. The Fund represents and warrants that it currently qualifies as a
Regulated Investment Company under Subchapter M of the Internal Revenue Code of
1986, as amended (the "Code"). The Fund further represents and warrants that it
will make every effort to continue to qualify and to maintain such qualification
(under Subchapter M or any successor or similar provision), and that it will
notify the Company immediately upon having a reasonable basis for believing that
it has ceased to so qualify or that it might not so qualify in the future.
2.4. The Fund represents and warrants that it will comply with Section
817(h) of the Code, and all regulations issued thereunder.
2.5. The Company represents that the Contracts are currently and at the
time of issuance will be treated as annuity contracts or life insurance
policies, whichever is appropriate, under applicable provisions of the Code. The
Company shall make every effort to maintain such treatment and shall notify the
Fund and the Distributor immediately upon having a reasonable basis
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for believing that the Contracts have ceased to be so treated or that they might
not be so treated in the future.
2.6. The Fund represents that the Fund's investment policies, fees and
expenses, and operations are and shall at all times remain in material
compliance with the laws of the state of Maryland, to the extent required to
perform this Agreement; and with any state- mandated investment restrictions set
forth on Schedule 3, as amended from time to time by the Company in accordance
with Section 6.6. The Fund, however, makes no representation as to whether any
aspect of its operations (including, but not limited to, fees and expenses and
investment policies) otherwise complies with the insurance laws or regulations
of any state. The Company alone shall be responsible for informing the Fund of
any investment restrictions imposed by state insurance law and applicable to the
Fund.
2.7. The Distributor represents and warrants that it is duly registered as
a broker-dealer under the 1934 Act, a member in good standing of the NASD, and
duly registered as a broker dealer under applicable state securities laws; its
operations are in compliance with applicable law, and it will distribute the
Fund shares according to applicable law.
2.8. The Distributor, on behalf of the Investment Manager, represents and
warrants that the Investment Manager is registered as an investment adviser
under the Investment Advisers Act of 1940 and is in compliance with applicable
federal and state securities laws.
2.9. The Fund represents and warrants that it has and maintains a fidelity
bond in accordance with Rule 17g- I under the 1940 Act. The Fund will
immediately notify the Company in the event the fidelity bond coverage should
lapse at any time.
ARTICLE III. PROSPECTUSES AND PROXY STATEMENTS, SALES MATERIAL AND OTHER
INFORMATION
3. 1. The Distributor shall provide the Company with as many copies of the
current Fund Prospectus as the Company may reasonably request. If requested by
the Company in lieu thereof, the Fund at its expense shall provide to the
Company a camera-ready copy of the current Fund Prospectus suitable for printing
and other assistance as is reasonably necessary in order for the Company to have
a new Contracts Prospectus printed together with the Fund Prospectus in one
document. See Article V for a detailed explanation of the responsibility for the
cost of printing and distributing Fund prospectuses.
3.2. The Fund Prospectus shall state that the Statement of Additional
Information for the Fund is available from the Distributor (or, in the Fund's
discretion, the Fund Prospectus shall state that such Statement is available
from the Fund), and the Distributor (or the Fund) shall provide such Statement
free of charge to the Company and to any outstanding or prospective Contract
owner who requests such Statement.
3.3. (a) The Fund at its expense shall provide to the Company a
camera-ready copy of the Fund's shareholder reports and other communications to
shareholders (except proxy material), in each case in a form suitable for
printing. The Fund shall be responsible for the costs of printing and
distributing these materials to Contract owners.
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(b) The Fund at its expense shall be responsible for preparing,
printing and distributing its proxy material. The Company will provide the
appropriate Contractowner names and addresses to the Fund for this purpose.
3.4. The Company shall furnish each piece of sales literature or other
promotional material in which the Fund or the Investment Manager is named to the
Fund or the Distributor prior to its use. No such material shall be used, except
with the prior written permission of the Fund or the Distributor. The Fund and
the Distributor agree to respond to any request for approval on a prompt and
timely basis. Failure of the Fund to respond within 10 days of the request by
the Company shall relieve the Company of the obligation to obtain the prior
written permission of the Fund or the Distributor.
3.5. The Company shall not give any information or make any representations
or statements on behalf of the Fund or concerning the Fund other than the
information or representations contained in the Fund Registration Statement or
Fund Prospectus, as such Registration Statement and Prospectus may be amended or
supplemented from time to time, or in reports or proxy statements for the Fund,
or in sales literature or other promotional material approved by the Fund or by
the Distributor, except with the prior written permission of the Fund or the
Distributor. The Fund agrees to respond to any request for permission on a
prompt and timely basis. If neither the Fund nor the Distributor responds within
10 days of a request by the Company, then the Company shall be relieved of the
obligation to obtain the prior written permission of the Fund.
3.6. The Fund and the Distributor shall not give any information or make
any representations on behalf of the Company or concerning the Company, the
Account or the Contracts other than the information or representations contained
in the Contracts Registration Statement or Contracts Prospectus, as such
Registration Statement and Prospectus may be amended or supplemented from time
to time, or in published reports of the Account which are in the public domain
or approved in writing by the Company for distribution to Contract owners, or in
sales literature or other promotional material approved in writing by the
Company, except with the prior written permission of the Company. The Company
agrees to respond to any request for permission on a prompt and timely basis. If
the Company fails to respond within 10 days of a request by the Fund or the
Distributor, then the Fund and the Distributor are relieved of the obligation to
obtain the prior written permission of the Company.
3.7. The Fund will provide to the Company at least one complete copy of all
Fund Registration Statements, Fund Prospectuses, Statements of Additional
Information, annual and semi-annual reports and other reports, proxy statements,
sales literature and other promotional materials, applications for exemptions,
requests for no-action letters, and all amendments or supplements to any of the
above, that relate to the Fund or Fund shares, promptly after the filing of such
document with the SEC or other regulatory authorities.
3.8. The Company will provide to the Fund at least one complete copy of all
Contracts Registration Statements, Contracts Prospectuses, Statements of
Additional Information, Annual and Semi-annual Reports, sales literature and
other promotional materials, and all amendments or supplements to any of the
above, that relate to the Contracts, promptly after the filing of such document
with the SEC or other regulatory authorities.
7
3.9. Each party will provide to the other party copies of draft versions of
any registration statements, prospectuses, statements of additional information,
reports, proxy statements, solicitations for voting instructions, sales
literature and other promotional materials, applications for exemptions,
requests for no-action letters, and all amendments or supplements to any of the
above, to the extent that the other party reasonably needs such information for
purposes of preparing a report or other filing to be filed with or submitted to
a regulatory agency. If a party requests any such information before it has been
filed, the other party will provide the requested information if then available
and in the version then available at the time of such request.
3.10. For purposes of this Article 1111, the phrase "sales literature or
other promotional material" includes, but is not limited to, advertisements
(such as material published, or designed for use, in a newspaper, magazine or
other periodical, radio, television, telephone or tape recording, videotape
display, computer net site, signs or billboards, motion pictures or other public
media), sales literature (Lie., any written communication distributed or made
generally available to customers or the public, in print or electronically,
including brochures, circulars, research reports, market letters, form letters,
seminar texts, or reprints or excerpts of any other advertisement, sales
literature, or published article), educational or training materials or other
communications distributed or made generally available to some or all agents or
employees, registration statements, prospectuses, Statements of Additional
Information, shareholder reports and proxy materials, and any other material
constituting sales literature or advertising under NASD rules, the 1940 Act or
the 1933 Act.
ARTICLE IV. Voting
4.1 Subject to applicable law and the order referred to in Article VII,
the Fund shall: solicit voting instructions from Contract owners,
4.2 Subject to applicable law and the order referred to in Article VII,
the Company shall:
(a) vote Fund shares of each Series attributable to Contract owners
in accordance with structions or proxies received in timely fashion from such
Contract owners;
(b) vote Fund shares of each Series attributable to Contract owners
for which no instructions have been received in the same proportion as Fund
shares of such Series for which instructions have been received in timely
fashion; and
(c) vote Fund shares of each Series held by the Company on its own
behalf or on behalf of the Account that are not attributable to Contract owners
in the same proportion as Fund shares of such Series for which instructions have
been received in timely fashion.
The Company shall be responsible for assuring that voting privileges for the
Accounts are calculated in a manner consistent with the provisions set forth
above.
ARTICLE V. Fees and EXPENSES
All expenses incident to performance by the Fund under this Agreement
(including expenses expressly assumed by the Fund pursuant to this Agreement)
shall be paid by the Fund to the extent permitted by law. Except as may
otherwise be provided in Section 1.4 and Article VII of
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this Agreement, the Company shall not bear any of the expenses for the cost of
registration and qualification of the Fund shares under Federal and any state
securities law, preparation and filing of the Fund Prospectus and Fund
Registration Statement, the preparation of all statements and notices required
by any Federal or state securities law, all taxes on the issuance or transfer of
Fund shares, and any expenses permitted to be paid or assumed by the Fund
pursuant to a plan, if any, under Rule 12b- I under the 1940 Act.
The Fund is responsible for the cost of printing and distributing Fund
Prospectuses and SAIs to existing Contract owners. (If for this purpose the
Company prints the Fund Prospectuses and SAIs in a booklet containing disclosure
for the Contracts and for underlying funds other than those of the Fund, then
the Fund shall pay only its proportionate share of the total cost to distribute
the booklet to existing Contract owners.)
The Company is responsible for the cost of printing and distributing Fund
prospectuses and SAIs for new sales; and Account Prospectuses and SAIs for
existing Contract owners. The Company shall have the final decision on choice of
printer for all Prospectuses and SAIs.
ARTICLE VI. COMPLIANCE UNDERTAKINGS
6. 1. The Fund undertakes to comply with Subchapter M and Section 817(h) of
the Code, and all regulations issued thereunder.
6.2. The Company shall amend the Contracts Registration Statements under
the 1933 Act and the Account's Registration Statement under the 1940 Act from
time to time as required in order to effect the continuous offering of the
Contracts or as may otherwise be required by applicable law. The Company shall
register and qualify the Contracts for sale to the extent required by applicable
securities laws of the various states.
6.3. The Fund shall amend the Fund Registration Statement under the 1933
Act and the 1940 Act from time to time as required in order to effect for so
long as Fund shares are sold the continuous offering of Fund shares as described
in the then currently effective Fund Prospectus. The Fund shall register and
qualify Fund shares for sale to the extent required by applicable securities
laws of the various states.
6.4. The Company shall be responsible for assuring that any prospectus
offering a Contract that is a life insurance contract where it is reasonably
possible that such Contract would be deemed a "modified endowment contract," as
that term is defined in Section 7702A of the Code, will describe the
circumstances under which a Contract could be treated as a modified endowment
contract (or policy).
6.5. To the extent that it decides to finance distribution expenses
pursuant to Rule 12b-1, the Fund undertakes to have a Fund Board of Directors, a
majority of whom are not interested persons of the Fund, formulate and approve
any plan under Rule 12b- I to finance distribution expenses.
(a) The Company shall amend Schedule 3 when appropriate in order to
inform the Fund of any applicable state-mandated investment restrictions with
which the Fund must comply.
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(b) Should the Fund or the Distributor become aware of any
restrictions which may be appropriate for inclusion in Schedule 3, the Company
shall be informed immediately of the substance of those restrictions.
ARTICLE VII. POTENTIAL CONFLICTS
7.1. The Company has reviewed a copy of the order (the "Mixed and Shared
Funding Order") dated November 2, 1987 of the Securities and Exchange Commission
under Section 6 of the Act and, in particular, has reviewed the conditions to
the relief set forth in the related Notice As set forth therein, the Company
agrees to report to the Board of Directors of the Fund (the "Board") any
potential or existing conflicts between the interests of Product Owners of all
separate accounts investing in the Fund, and to assist the Board in carrying out
its responsibilities under the conditions of the Mixed and Shared Funding Order
by providing all information reasonably necessary for the Board to consider any
issues raised, including information as to a decision to disregard voting
instructions of variable contract owners.
7.2. If a majority of the Board, or a majority of disinterested Board
Members, determines that a material irreconcilable conflict exists, the Board
shall give prompt notice to all Participating Insurance Companies.
(a) If a majority of the whole Board, after notice to the Company and
a reasonable opportunity for the Company to appear before it and present its
case, determines that the Company is responsible for said conflict, and if the
Company agrees with that determination, the Company shall, at its sole cost and
expense, take whatever steps are necessary to remedy the irreconcilable material
conflict. These steps could include: (a) withdrawing the assets allocable to
some or all of the affected Accounts from the Fund or any Series and reinvesting
such assets in a different investment vehicle, including another Series of the
Fund, or submitting the question of whether such segregation should be
implemented to a vote of all affected Contractowners and, as appropriate,
segregating the assets of any particular group (i.e., variable annuity
Contractowners, variable life insurance policyowners, or variable Contractowners
of one or more Participating Insurance Companies) that votes in favor of such
segregation, or offering to the affected Contractowners the option of making
such a change; and (b) establishing a new registered mutual fund or management
separate account, or taking such other action as is necessary to remedy or
eliminate the irreconcilable material conflict.
(b) If the Company disagrees with the Board's determination, the
Company shall file a written protest with the Board, reserving its right to
dispute the determination as between just the Company and the Fund. After
reserving that right the Company, although disagreeing with the Board that it
(the Company) was responsible for the conflict, shall take the necessary steps,
under protest, to remedy the conflict, substantially in accordance with
paragraph (a) just above, for the protection of Contractowners.
(c) As between the Company and the Fund, if within 45 days after the
Board's determination the Company elects to press the dispute, it shall so
notify the Board in writing. The parties shall then attempt to resolve the
matter amicably through negotiation by individuals from each party who are
authorized to settle the controversy.
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If the matter has not been amicably resolved within 60 days from the date
of the Company's notice of its intent to press the dispute, then before either
party shall undertake to litigate the dispute it shall be submitted to
non-binding arbitration conducted expeditiously in accordance with the CPR Rules
for Non-Administered Arbitration of Business Disputes, by a sole arbitrator;
PROVIDED, HOWEVER, that if one party has requested the other party to seek an
amicable resolution and the other party has failed to participate, the
requesting party may initiate arbitration before expiration of the 60-day period
set out just above.
If within 45 days of the commencement of the process to select an
arbitrator the parties cannot agree upon the arbitrator, then he or she will be
selected from the CPR Panels of Neutrals. The arbitration shall be governed by
the United States Arbitration Act, 9 U.S.C. Sec. 1-16. The place of arbitration
shall be Fort Xxxxx, Indiana. The Arbitrator is not empowered to award damages
in excess of compensatory damages.
(d) If the Board shall determine that the Fund or another insurer was
responsible for the conflict, then the Board shall notify the Company
immediately of that determination. The Fund shall assure the Company that it
(the Fund) or that other insurer, as applicable, shall, at its sole cost and
expense, take whatever steps are necessary to eliminate the conflict.
7.3. If a material irreconcilable conflict arises because of the Company's
decision to disregard Contract owner voting instructions and that decision
represents a minority position or would preclude a majority vote, the Company
shall withdraw (without charge or penalty) the Account's investment in the Fund,
if the Fund so elects.
7.4 Subject to the terms of Section 7.2 above, the Company shall carry out
the responsibility to take remedial action in the event of a Board determination
of an irreconcilable material conflict with a view only to the interests of
Contract Owners.
7.5. For purposes of this Article, a majority of the disinterested members
of the Board shall determine whether or not any proposed action adequately
remedies any irreconcilable conflict, but in no event will the Fund be required
to establish a new funding medium for any variable contract, nor will the
Company be required to establish a new funding medium for any Contract if an
offer to do so has been declined by a vote of a majority of affected
Contractowners.
ARTICLE VIII. INDEMNIFICATION
8.1. INDEMNIFICATION BY THE COMPANY. The Company agrees to indemnify and
hold harmless the Fund, the Distributor and each person who controls or is
associated with the Fund (other than another Participating Insurance Company) or
the Distributor within the meaning of such terms under the federal securities
laws and any officer, trustee, director, employee or agent of the foregoing,
against any and all losses, claims, damages or liabilities, joint or several
(including any investigative, legal and other expenses reasonably incurred in
connection with, and any amounts paid in settlement of, any action, suit or
proceeding or any claim asserted), to which they or any of them may become
subject under any statute or regulation, at common law or otherwise, insofar as
such losses, claims, damages or liabilities:
(a) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Contracts
Registration Statement, Contracts Prospectus, sales literature or other
promotional material for the Contracts or the Contracts themselves(or any
amendment or supplement to any of the foregoing(, or arise out of or are
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based upon the omission or the alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances in which they were
made; provided that this obligation to indemnify shall not apply if such
statement or omission or such alleged statement or alleged omission was
made in reliance upon and in conformity with information furnished in
writing to the Company by the Fund or the Distributor (or a person
authorized in writing to do so on behalf of the Fund or the Distributor)
for use in the Contracts Registration Statement, Contracts Prospectus or in
the Contracts or sales literature (or any amendment or supplement) or
otherwise for use in connection with the sale of the Contracts or Fund
shares; or
(b) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact by or on behalf of the Company (other
than statements or representations contained in the Fund Registration
Statement, Fund Prospectus or sales literature or other promotional
material of the Fund not supplied by the Company or persons under its
control) or wrongful conduct of the Company or persons under its control
with respect to the sale or distribution of the Contracts or Fund shares;
or
(c) arise out of any untrue statement or alleged untrue statement of a
material fact contained in the Fund Registration Statement, Fund Prospectus
or sales literature or other promotional material of the Fund or any
amendment thereof or supplement thereto, or the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading in fight of the
circumstances in which they were made, if such statement or omission was
made in reliance upon and in conformity with information furnished to the
Fund by or on behalf of the Company; or
(d) arise as a result of any failure by the Company to provide the
services and furnish the materials or to make any payments under the terms
of this Agreement; or
(e) arise out of any material breach by the Company of this Agreement,
including but not limited to any failure to transmit a request for
redemption or purchase of Fund shares on a timely basis in accordance with
the procedures set forth in Article 1; or
(f) arise as a result of the Company's providing the Fund with
inaccurate information, which causes the Fund to calculate its Net Asset
Values incorrectly.
This indemnification will be in addition to any liability which the Company may
otherwise have; provided, however, that no party shall be entitled to
indemnification if such loss, claim, damage or liability is due to the willful
misfeasance, bad faith, gross negligence or reckless disregard of duty by the
party seeking indemnification.
8.2. INDEMNIFICATION BY THE DISTRIBUTOR. The Distributor agrees to
indemnify and hold harmless the Company and each person who controls or is
associated with the Company within the meaning of such terms under the federal
securities laws and any officer, director, employee or agent of the foregoing,
against any and all losses, claims, damages or liabilities, joint or several
(including any investigative, legal and other expenses reasonably incurred in
connection with, and any amounts paid in settlement of, any action, suit or
proceeding or any claim asserted), to which they or any of them may become
subject under any statute or regulation, at common law or otherwise, insofar as
such losses, claims, damages or liabilities:
12
(a) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the Fund Registration
Statement, Fund Prospectus (or any amendment or supplement thereto) or
sales literature or other promotional material of the Fund, or arise out of
or are based upon the omission or the alleged omission to state therein a
material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances in which
they were made; provided that this obligation to indemnify shall not apply
if such statement or omission or alleged statement or alleged omission was
made in reliance upon and in conformity with information furnished in
writing by the Company to the Fund or the Distributor for use in the Fund
Registration Statement, Fund Prospectus (or any amendment or supplement
thereto) or sales literature for the Fund or otherwise for use in
connection with the sale of the Contracts or Fund shares; or
(b) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact made by the Distributor or the Fund
(other than statements or representations contained in the Fund
Registration Statement, Fund Prospectus or sales literature or other
promotional material of the Fund not supplied by the Distributor or the
Fund or persons under their control) or wrongful conduct of the Distributor
or persons under its control with respect to the sale or distribution of
the Contracts or Fund shares; or
(c) arise out of any untrue statement or alleged untrue statement of a
material fact contained in the Contract's Registration Statement, Contracts
Prospectus or sales literature or other promotional material for the
Contracts (or any amendment or supplement thereto), or the omission or
alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading in fight
of the circumstances in which they were made, if such statement or omission
was made in reliance upon information furnished in writing by the
Distributor or the Fund to the Company (or a person authorized in writing
to do so on behalf of the Fund or the Distributor); or
(d) arise as a result of any failure by the Fund to provide the
services and furnish the materials under the terms of this Agreement
(including, but not by way of limitation, a failure, whether unintentional
or in good faith or otherwise: (i) to comply with the diversification
requirements specified in Article VI of this Agreement; and (ii) to provide
the Company with accurate information sufficient for it to calculate its
accumulation and/or annuity unit values in timely fashion as required by
law and by the Contracts Prospectuses); or
(e) arise out of any material breach by the Distributor or the Fund of
this Agreement.
This indemnification will be in addition to any liability which the Distributor
may otherwise have; provided, however, that no party shall be entitled to
indemnification if such loss, claim, damage or liability is due to the willful
misfeasance, bad faith, gross negligence or reckless disregard of duty by the
party seeking indemnification.
8.3. INDEMNIFICATION PROCEDURES. After receipt by a party entitled to
indemnification ("indemnified party") under this Article VIII of notice of the
commencement of any action, if a claim in respect thereof is to be made by the
indemnified party against any person obligated to provide indemnification under
this Article VIII ("indemnifying party"), such indemnified party will notify the
indemnifying party in writing of the commencement thereof as soon as practicable
thereafter, provided that the omission to so notify the indemnifying party will
not relieve it from any liability under this Article VIII, except to the extent
that the omission results in a failure of actual notice to the indemnifying
party and such indemnifying party is damaged solely as a result of the failure
to give such notice. The indemnifying party, upon the request of the indemnified
party, shall retain counsel reasonably satisfactory to the indemnified party to
represent the indemnified party and any others the indemnifying party may
designate in such proceeding and shall pay the
13
fees and disbursements of such counsel related to such proceeding. In any such
proceeding, any indemnified party shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such indemnified party unless (i) the indemnifying party and the indemnified
party shall have mutually agreed to the retention of such counsel or (ii) the
named parties to any such proceeding (including any impleaded parties) include
both the indemnifying party and the indemnified party and representation of both
parties by the same counsel would be inappropriate due to actual or potential
differing interests between them. The indemnifying party shall not be liable for
any settlement of any proceeding effected without its written consent but if
settled with such consent or if there be a final judgment for the plaintiff, the
indemnifying party agrees to indemnify the indemnified party from and against
any loss or liability by reason of such settlement or judgment.
A successor by law of the parties to this Agreement shall be entitled to
the benefits of the indemnification contained in this Article VIII. The
indemnification provisions contained in this Article VIII shall survive any
termination of this Agreement.
ARTICLE IX. APPLICABLE LAW
9.1. This Agreement shall be construed and the provisions hereof
interpreted under and in accordance with the laws of the state of Indiana,
without giving effect to the principles of conflicts of laws.
9.2. This Agreement shall be subject to the provisions of the 1933, 1934
and 1940 Acts, and the rules and regulations and rulings thereunder, including
such exemptions from those statutes, rules and regulations as the SEC may grant,
and the terms hereof shall be limited, interpreted and construed in accordance
therewith.
ARTICLE X. TERMINATION
10.1. This Agreement shall terminate:
(a) at the option of any party upon six months advance written notice
to the other parties; or
(b) at the option of the Company if shares of any Series are not
available to meet the requirements of the Contracts as determined by the
Company. Prompt notice of the election to terminate for such cause shall be
furnished by the Company. Termination shall be effective ten days after the
giving of notice by the Company; or
(c) at the option of the Fund upon institution of formal proceedings
against the Company by the NASD, the SEC, the insurance commission of any
state or any other regulatory body regarding the Company's duties under
this Agreement or related to the sale of the Contracts, the operation of
the Account, the administration of the Contracts or the purchase of Fund
shares, or an expected or anticipated ruling, judgment or outcome which
would, in the Fund's reasonable
14
judgment, materially impair the Company's ability to perform the
Company's obligations and duties hereunder; or
(d) at the option of the Company upon institution of formal
proceedings against the Fund, the Distributor, the Investment Manager or
any Sub-Investment Manager, by the NASD, the SEC, or any state securities
or insurance commission or any other regulatory body regarding the duties
of the Fund or the Distributor under this Agreement, or an expected or
anticipated ruling, judgment or outcome which would, in the Company's
reasonable judgment, materially impair the Fund's or the Distributor's
ability to perform Fund's or Distributor's obligations and duties
hereunder; or
(e) at the option of the Company upon institution of formal
proceedings against the Investment Manager or Sub-investment Manager by the
NASD, the SEC, or any state securities or insurance commission or any other
regulatory body which would, in the good faith opinion of the Company,
result in material harm to the Accounts, the Company, or Contractowners.
(f) upon requisite vote of the Contract owners having an interest in
the affected Series (unless otherwise required by applicable law) and
written approval of the Company, to substitute the shares of another
investment company for the corresponding Series shares of the Fund in
accordance with the terms of the Contracts; or
(g) at the option of the Fund in the event any of the Contracts are
not registered, issued or sold in accordance with applicable Federal and/or
state law; or
(h) at the option of the Company or the Fund upon a determination by
a majority of the Fund Board, or a majority of disinterested Fund Board
members, that an irreconcilable material conflict exists among the
interests of (i) any Product owners or (ii) the interests of the
Participating Insurance Companies investing in the Fund; or
(i) at the option of the Company if the Fund ceases to qualify as a
Regulated Investment Company under Subchapter M of the Code, or under any
successor or similar provision, or if the Company reasonably believes,
based on an opinion of its counsel, that the Fund may fail to so qualify;
or
(j) at the option of the Company if the Fund fails to meet the
diversification requirements specified in Section 817(h) of the Code and
any regulations thereunder; or
(k) at the option of the Fund if the Contracts cease to qualify as
annuity contracts or life insurance policies, as applicable, under the
Code, or if the Fund reasonably believes that the Contracts may fail to so
qualify; or
(l) at the option of either the Fund or the Distributor if the Fund
or the Distributor, respectively, shall determine, in their sole judgment
exercised in good faith, that either (1) the Company shall have suffered a
material adverse change in its
15
business or financial condition; or (2) the Company shall have been the
subject of material adverse publicity which is likely to have a material
adverse impact upon the business and operations of either the Fund or the
Distributor; or
(m) at the option of the Company, if the Company shall determine, in
its sole judgment exercised in good faith, that either: (1) the Fund and
the Distributor, or either of them, shall have suffered a material adverse
change in their respective businesses or financial condition; or (2) the
Fund or the Distributor, or both of them, shall have been the subject of
material adverse publicity which is likely to have a material adverse
impact upon the business and operations of the Company; or
(n) upon the assignment of this Agreement (including, without
limitation, any transfer of the Contracts or the Accounts to another
insurance company pursuant to an assumption reinsurance agreement) unless
the non-assigning party consents thereto or unless this Agreement is
assigned to an affiliate of the Distributor.
10.2. Notice REQUIREMENT. Except as otherwise provided in Section 10. 1, no
termination of this Agreement shall be effective unless and until the party
terminating this Agreement gives prior written notice to all other parties to
this Agreement of its intent to terminate which notice shall set forth the basis
for such termination. Furthermore:
(a) In the event that any termination is based upon the provisions of
Article VII or the provisions of Section 10. 1 (a) of this Agreement, such
prior written notice shall be given in advance of the effective date of
termination as required by such provisions; and
(b) in the event that any termination is based upon the provisions
of Section 10. 1 (c) or 10. 1 (d) of this Agreement, such prior written
notice shall be given at least ninety (90) days before the effective date
of termination, or sooner if required by law or regulation.
(c) in the event that any termination is based upon the provisions
of Section 10. 1 (e) of this Agreement, such prior written notice shall be
given at least sixty (60) days before the date of any proposed vote to
replace the Fund's shares.
10.3. EFFECT OF TERMINATION
(a) Notwithstanding any termination of this Agreement pursuant to
Section 10.1 of this Agreement, the Fund and the Distributor will, at the
option of the Company, continue to make available additional Fund shares
for so long after the termination of this Agreement as the Company desires,
pursuant to the terms and conditions of this Agreement as provided in
paragraph (b) below, for all Contracts in effect on the effective date of
termination of this Agreement (hereinafter referred to as "Existing
Contracts"). Specifically, without limitation, if the Company so elects to
make additional Fund shares available, the owners of the Existing Contracts
or the Company, whichever shall have legal authority to do so, shall be
permitted to reallocate investments in the Fund, redeem investments in the
Fund and/or invest in the Fund upon the making of additional purchase
payments under the Existing Contracts.
(b) In the event of a termination of this Agreement pursuant to
Section 10. 1 of this Agreement, the Fund and the Distributor shall
promptly notify the Company whether
16
the Distributor and the Fund will continue to make Fund shares available
after such termination. If Fund shares continue to be made available after
such termination, the provisions of this Agreement shall remain in effect
except for Section 10. 1 (a) and thereafter either the Fund or the Company
may terminate the Agreement, as so continued pursuant to this Section 10.3,
upon prior written notice to the other party, such notice to be for a
period that is reasonable under the circumstances but, if given by the
Fund, need not be for more than six months.
(c) The parties agree that this Section 10.3 shall not apply to any
termination made pursuant to Article VII or any conditions or undertakings
incorporated by reference in Article VII and the effect of such Article VII
termination shall be governed by the provisions set forth or incorporated
by reference therein.
ARTICLE XI. APPLICABILITY TO NEW ACCOUNTS AND NEW CONTACTS
The parties to this Agreement may amend the schedules to this Agreement
from time to time to reflect changes in or relating to the Contracts and to add
new classes of variable annuity contracts and variable fife insurance policies
to be issued by the Company through a Separate Account investing in the Fund.
The provisions of this Agreement shall be equally applicable to each such class
of contracts or policies, unless the context otherwise requires.
ARTICLE XII. NOTICES
Any notice shall be sufficiently given when sent by registered or certified
mail to the other party(ies) at the address of such party(ies) set forth below
or at such other address as such party(ies) may from time to time specify in
writing to the other party.
If to the Fund:
Delaware Group Premium Fund, Inc.
Xxx Xxxx Xxxxxx Xxxxx
Xxxxxxxxxxxx, XX 00000
Attn: Xxxxxxxxxxx Xxxxx
If to the Company:
Lincoln National Life Insurance Co.
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
Attn: Xxxxx X. Xxxxxxxxx
If to the Distributor:
Delaware Distributors, Inc.
Xxx Xxxx Xxxxxx Xxxxx
Xxxxxxxxxxxx, XX 00000
Attn: Xxxxx X. Xxxxxxxx
17
ARTICLE XIII. MISCELLANEOUS
13.1. The captions in this Agreement are included for convenience of
reference only and in no way define or delineate any of the provisions hereof or
otherwise affect their construction or effect.
13.2. This Agreement may be executed simultaneously in two or more
counterparts, each of which together shall constitute one and the same
instrument.
13.3. If any provision of this Agreement shall be held or made invalid by a
court decision, statute, rule or otherwise, the remainder of the Agreement shall
not be affected thereby.
13.4. Each party hereto shall cooperate with each other party and all
appropriate governmental authorities (including without limitation the SEC, the
NASD and state insurance regulators) and shall permit such authorities
reasonable access to its books and records in connection with any investigation
or inquiry relating to this Agreement or the transactions contemplated hereby.
13.5. Each party represents that the execution and delivery of this
Agreement and the consummation of the transactions contemplated herein have been
duly authorized by all necessary corporate or trust action, as applicable, by
such party, and when so executed and delivered this Agreement will be the valid
and binding obligation of such party enforceable in accordance with its terms.
18
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
executed in its name and behalf by its duly authorized officer on the date
specified below.
DELAWARE GROUP PREMIUM FUND, INC. (Fund)
Date: By:
Name:
Title:
LINCOLN NATIONAL LIFE INSURANCE CO. (Company)
Date: 4/30/96 By: /s/ Xxxxx X. Xxxxxxxxx
Name: Xxxxx X. Xxxxxxxxx
Title: Vice President
DELAWARE DISTRIBUTORS, LP (Distributor)
Date: By:
Name:
Title:
authorized by all necessary corporate or trust action, as applicable, by such
party, and when so executed and delivered this Agreement will be the valid and
binding obligation of such party enforceable in accordance with its terms.
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to
be executed in its NAME and behalf by its duly authorized officer on the date
specified below.
DELAWARE GROUP PREMIUM FUND, INC. (Fund)
Date: 5/1/96 By: /s/ Xxxxx X. Xxxxxx
Name: Xxxxx X. Xxxxxx
Title: Senior Vice President, CAO & CFO
LINCOLN NATIONAL LIFE INSURANCE CO. (Company)
Date: By:
Name:
Title:
DELAWARE DISTRIBUTORS, LP (Distributor)
Date: 5/1/96 By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: President & CEO
19
SCHEDULE I
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 1996
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
20
SCHEDULE 2
Variable Annuity Contracts
and Variable Life Insurance Policies
Supported by Separate Accounts
Listed on Schedule I
As of May 1, 1996
Multi Fund Variable Annuity Contracts
Multi Fund Variable Life Insurance Contracts
21
SCHEDULE 3
State-mandated Investment Restrictions
Applicable to the Fund
As of May 1, 1996
The California Department of Insurance has established the following Guidelines
for an underlying portfolio of a Separate Account:
Borrowing. Borrowing limits for any variable contract separate account portfolio
are (1) 10% of net asset value when borrowing for any general purpose; and (2)
25% of net asset value when borrowing as a temporary measure to facilitate
redemptions. Net asset value of a portfolio is the market value of all
investments or assets owned less outstanding liabilities of the portfolio at the
time that any new or additional borrowing is undertaken.
FOREIGN INVESTMENTS - DIVERSIFICATION.
1. A portfolio will be invested in a minimum of five different foreign
countries at all times. However, this minimum is reduced to four when foreign
investments comprise less than 80% of the portfolio's net asset value; to three
when less than 60% of that value; to two when less than 40%; and to one when
less than 20%.
2. Except as set forth in items 3 and 4 below, a Portfolio will have no more
than 20% of its net asset value invested in securities of issuers located in any
one country.
3. A Portfolio may have an additional 15% of its net asset value invested in
securities of issuers located in any one of the following countries: Australia,
Canada, France, Japan, the United Kingdom or Germany.
4. A Portfolio's investments in United States issuers are not subject to the
foreign country diversification guidelines.
22
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln Life Insurance Company
Investing in the Fund
As of May 1, 1999
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln National Life Insurance Company Separate Account 53
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
Schedule 1 to be executed in its name and behalf by its duly authorized officer
on the date specified below.
DELAWARE GROUP PREMIUM FUND, INC (Fund)
Date: May 26, 1999 By:
------------------- --------------------------------
Xxxxxxx X. Xxxx
Chairman/President/Chief Executive
Officer
LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: June 4, 1999 By:
------------------- --------------------------------
Xxxxx X. Xxxxxxxxx
Vice President
DELAWARE DISTRIBUTORS, LP (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: May 26, 1999 By:
------------------- --------------------------------
Xxxxx X. Xxxxxx
President and Chief Executive Officer
--------------------------------
--------------------------------
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and
Variable Life Insurance Policies
Support by Separate Accounts
Listed on Schedule 1
As of May 1, 1999
Multi-Fund -Registered Trademark- Individual Variable Annuity Contracts
(Registered and Non-Registered)
Multi-Fund -Registered Trademark- Variable Life Insurance Contracts
Group Multi-Fund -Registered Trademark- Variable Annuity Contracts
Delaware-Lincoln Accru ChoicePlusVariable Annuity Contracts
VUL I Variable Universal Life Insurance Contracts
Lincoln VUL Variable Universal Life Insurance Contracts
e-Annuity tm Variable Annuity Contracts
SVUL I Variable Universal Life Insurance Contracts
Lincoln SVUL Variable Universal Life Insurance Contracts
CVUL Variable Universal Life Insurance Contracts
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and
Variable Life Insurance Policies
Supported by Separate Accounts
Listed on Schedule 1
As of October 15, 1999
Multi Fund-Registered Trademark- Individual Variable Annuity Contracts
(Registered and non-registered)
Multi Fund-Registered Trademark- Variable Life Insurance Contracts
Group Multi Fund-Registered Trademark- Variable Annuity Contracts
Delaware-Lincoln ChoicePlus Variable Annuity Contracts
VUL I Variable Universal Life Insurance Contracts
Lincoln VUL Variable Universal Life Insurance Contracts
eAnnuity(TM) Variable Annuity Contracts
SVUL I Variable Universal Life Insurance Contracts
Lincoln SVUL Variable Universal Life Insurance Contracts
Lincoln CVUL Variable Universal Life Insurance Contracts
Lincoln VUL(DB) Variable Universal Life Insurance Contracts
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
Schedule 2 to be executed in its name and behalf by its duly authorized officer
on the date specified below.
DELAWARE GROUP PREMIUM FUND, INC. (Fund)
Date: By: /s/ Xxxxx X. Xxxxxx
-------------------- -----------------------------
Xxxxx X. Xxxxxx
President/CEO
LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 3/22/2000 By: /s/ Xxxxxx X. Xxxxxxx
-------------------- -----------------------------
Xxxxxx X. Xxxxxxx
Second Vice President
DELAWARE DISTRIBUTORS, LP (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: By: /s/ Xxxxx Xxxxxx
-------------------- -----------------------------
Xxxxx Xxxxxx
President
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2000
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln National Life Insurance Company Separate Account 53
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and
Variable Life Insurance Policies
Supported by Separate Accounts
Listed on Schedule 1
As of May 1, 2000
Multi Fund-Registered Trademark- Individual Variable Annuity Contract
(Registered and non-registered)
Multi Fund-Registered Trademark- Variable Life Insurance Contract
Group Multi Fund-Registered Trademark- Variable Annuity Contract
Delaware-Lincoln New York ChoicePlus Variable Annuity Contract
VUL I Variable Universal Life Insurance Contract
Lincoln VUL Variable Universal Life Insurance Contract
Lincoln VUL(DB) Variable Universal Life Insurance Contract
eAnnuity(TM) Variable Annuity Contract
SVUL I Variable Universal Life Insurance Contract
Lincoln SVUL Variable Universal Life Insurance Contract
Lincoln SVUL II Variable Universal Life Insurance Contract
Lincoln CVUL Variable Universal Life Insurance Contract
Lincoln CVUL Series III Variable Universal Life Insurance Contract
Group Variable Annuity (GVA) I, II, III
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
Schedules 1 and 2 to be executed in its name and behalf by its duly authorized
officer on the date specified below.
DELAWARE GROUP PREMIUM FUND (Fund)
Date: By: /s/ Xxxxx X. Xxxxxx
---------------- -----------------------
Name: Xxxxx X. Xxxxxx
Title: President/CEO
LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 3/22/2000 By: /s/ Xxxxxx X. Xxxxxxx
---------------- -----------------------
Xxxxxx X. Xxxxxxx
Second Vice President
DELAWARE DISTRIBUTORS, LP (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: By: /s/ Xxxxx Xxxxxx
---------------- -----------------------
Name: Xxxxx Xxxxxx
Title: President
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of July 15, 2000
Multi Fund-Registered Trademark- Individual Variable Annuity Contract
(Registered and non-registered)
Multi Fund-Registered Trademark- Variable Life Insurance Contract
Group Multi Fund-Registered Trademark- Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
VUL I Variable Universal Life Insurance Contract
Lincoln VUL Variable Universal Life Insurance Contract
Lincoln VUL-DB- Variable Universal Life Insurance Contract
eAnnuity-TM- Variable Annuity Contract
SVUL I Variable Universal Life Insurance Contract
Lincoln SVUL Variable Universal Life Insurance Contract
Lincoln SVUL II Variable Universal Life Insurance Contract
Lincoln CVUL Variable Universal Life Insurance Contract
Lincoln CVUL Series III Variable Universal Life Insurance Contract
Group Variable Annuity (GVA) I, II, III
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment
to Schedule 2 to be executed in its name and behalf by its duly authorized
officer on the date specified below.
DELAWARE GROUP PREMIUM FUND (Fund)
Date: 7-15-2000 By:
---------------- -----------------------------------
Name:
Title:
LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 7-15-2000 By: /s/ Xxxxxx X. Xxxxxxx
---------------- ------------------------------------
Xxxxxx X. Xxxxxxx
Second Vice President
DELAWARE DISTRIBUTORS, LP (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: 7-15-2000 By: /s/ Xxxxx X. Xxxxxx
---------------- ------------------------------------
Name: Xxxxx X. Xxxxxx
Title:
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2001
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account W
Lincoln National Life Insurance Company Separate Account 53
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2001
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) Variable Life Insurance Policy
Group Multi Fund(R) Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus Advance Variable Annuity Contract
VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV2) Variable Universal Life Insurance Policy
eAnnuity(TM) Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Linconl SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Lincoln Life Director(TM)
2
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to
Schedules 1 and 2 to be executed in its name and behalf by its duly authorized
officer on the date specified below.
DELAWARE GROUP PREMIUM FUND (Fund)
Date: By: /s/ Xxxxx X. Xxxxxx
---------------------- -----------------------------------------
Name: Xxxxx X. Xxxxxx
Title: President/Chief Executive Officer/
Chief Financial Officer
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: By: /s/ Xxxxxx X. Xxxxxxx
---------------------- -----------------------------------------
Xxxxxx X. Xxxxxxx
Second Vice President
DELAWARE DISTRIBUTORS, LP (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------- -----------------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: President/Chief Executive Officer
3
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") dated the 1st
day of May, 1996, as amended, between Delaware VIP Trust (formerly Delaware
Group Premium Fund, Inc.,) a statutory trust organized under the laws of
Delaware (the "Fund"), The Lincoln National Life Insurance Company, an Indiana
life insurance company (the "Company") and Delaware Distributors, L.P., a
Delaware limited partnership (the "Distributor") is effective as of May 1, 2003.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. ARTICLE II: Representations and Warranties
Section 2.2 is hereby replaced with the following:
2.2 The Fund represents and warrants the Fund shares sold pursuant to
this Agreement shall be registered under the 1933 Act and duly
authorized for issuance in accordance with applicable law and that the
Fund is and shall remain registered under the 1940 Act for so long as
the Fund shares are sold. The Fund further represents and warrants
that it is a statutory trust and in good standing under the laws of
Delaware.
2. ARTICLE II: Representations and Warranties
Section 2.6 is hereby replaced with the following:
2.6 The Fund represents that the Fund's investment policies, fees and
expenses, and operations are and shall at all times remain in material
compliance with the laws of the state of Delaware, to the extent
required to perform this Agreement; and with any state-mandated
investment restrictions set forth on Schedule 3, as amended from time
to time by the Company in accordance with Section 6.6. The Fund,
however, makes no representation as to whether any aspect of its
operations (including, but not limited to, fees and expenses and
investment policies) otherwise complies with the insurance laws or
regulations of any state. The Company alone shall be responsible for
informing the Fund of any investment restrictions imposed by state
insurance law and applicable to the Fund.
1
3. ARTICLE XII. Notices If to the Fund:
Delaware VIP Trust
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
Attn: President
4. Article XII NOTICES If to the Company is replaced with
The Lincoln National Life Insurance Company
0000 X. Xxxxxxx Xxxxxx
Xxxx Xxxxx, XX 00000
Attn: Rise X. X. Xxxxxx
Vice President
5. ARTICLE XII. Notices If to the Distributor:
Delaware Distributors, Inc.
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
Attn: General Counsel
6. Schedule 1 of this Agreement shall be deleted and replaced with the
attached Schedule 1.
7. Schedule 2 of this Agreement shall be deleted and replaced with the
attached Schedule 2.
8. All other terms of the Agreement shall remain in full force and
effect.
2
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 on the date
specified below.
DELAWARE VIP TRUST (Fund)
Date: 4/3/06 By: /s/ Xxxxx X. X'Xxxxxx
------------------------------------
Name: Xxxxx X. X'Xxxxxx
Title:
THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY
Date: 4/3/06 By: /s/ Rise X. X. Xxxxxx
------------------------------------
Rise X.X. Xxxxxx
Vice President
DELAWARE DISTRIBUTORS, L.P.
(Distributor), by
DELAWARE DISTRIBUTORS, INC.,
General Partner
Date: 4/3/06 By: /s/ Xxxxx Xxxxxxxx-Xxxxx
------------------------------------
Name: Xxxxx Xxxxxxxx-Xxxxx
Title: Senior Vice President
3
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2003
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 53
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
4
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2003
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Group Multi Fund(R) Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
eAnnuity(TM) Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable Private Solutions
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
5
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2003
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 53
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") dated the 1st
day of May, 1996, as amended, between Delaware VIP Trust (formerly Delaware
Group Premium Fund, Inc.,) a statutory trust organized under the laws of
Delaware (the "Fund"), The Lincoln National Life Insurance Company, an Indiana
life insurance company (the "Company") and Delaware Distributors, L.P., a
Delaware limited partnership (the "Distributor") is effective as of May 1, 2005.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Schedule 2 of this Agreement shall be deleted and replaced with the
attached Schedule 2.
2. All other terms of the Agreement shall remain in full force and
effect.
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 on the date
specified below.
DELAWARE VIP TRUST (Fund)
Date: 4/3/06 By: /s/ Xxxxx X. X'Xxxxxx
------------------------------------
Name: Xxxxx X. X'Xxxxxx
Title:
THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY
Date: 4/3/06 By: /s/ Rise X. X. Xxxxxx
------------------------------------
Rise X.X. Xxxxxx
Vice President
DELAWARE DISTRIBUTORS, L.P.
(Distributor), by
DELAWARE DISTRIBUTORS, INC.,
General Partner
Date: 4/3/06 By: /s/ Xxxxx Xxxxxxxx-Xxxxx
------------------------------------
Name: Xxxxx Xxxxxxxx-Xxxxx
Title: Senior Vice President
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2003
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 53
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 87
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2005
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Group Multi Fund(R) Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Momentum Income Option
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VULONE Variable Universal Life Insurance Policy
Lincoln Momentum VULONE 2005 Variable Universal Life Insurance Policy
eAnnuity(TM) Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable Private Solutions
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") dated the
1st day of May, 1996, as amended, between Delaware Group Premium Fund, Inc.,
a corporation organized under the laws of Maryland (the "Fund"), The Lincoln
National Life Insurance Company, an Indiana life insurance company (the
"Company") and Delaware Distributors, L.P., a Delaware limited partnership
(the "Distributor") is effective as of May 1, 2006.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Schedules 1 and 2 of this Agreement shall be deleted and replaced
with the attached Schedules 1 and 2.
2. All other terms of the Agreement shall remain in full force and
effect.
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 on the
date specified below.
DELAWARE VIP TRUST (Fund)
Date: 11/6/07 By: /s/ See Xxxx Xxxx
---------------------- -----------------------------
Name: See Xxxx Xxxx
Title: Executive Vice President
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 12/21/07 By: /s/ Xxxxx X. Xxxxxxxxx
---------------------- -----------------------------
Xxxxx X. Xxxxxxxxx
Vice President
DELAWARE DISTRIBUTORS, L.P. (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: 11/8/07 By: /s/ Xxxxxxxx X. Xxxxx
---------------------- -----------------------------
Name: Xxxxxxxx X. Xxxxx
Title: President
AMENDMENT TO SCHEDULE 1
Separate Accounts of Lincoln National Life Insurance Company
Investing in the Fund
As of May 1, 2006
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 87
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
Lincoln Life Separate Account 4k
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2006
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Momentum Income Option
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VULDB Variable Universal Life Insurance Policy
Lincoln VULDB II Variable Universal Life Insurance Policy
Lincoln VULDB IV Variable Universal Life Insurance Policy
Lincoln VULCV Variable Universal Life Insurance Policy
Lincoln VULCV II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VULCV III Variable Universal Life Insurance Policy
Lincoln VULCV IV Variable Universal Life Insurance Policy
Lincoln VULONE Variable Universal Life Insurance Policy
Lincoln VULONE 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VULONE Variable Universal Life Insurance Policy
Lincoln Momentum VULONE 2005 Variable Universal Life Insurance Policy
Lincoln Momentum SVULONE Variable Universal Life Insurance PolicyeAnnuity(TM)
Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVULONE Variable Universal Life Insurance PolicyLincoln CVUL Variable
Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") dated the
1st day of May, 1996, as amended, between Delaware VIP Trust (formerly
Delaware Group Premium Fund, Inc.), a statutory trust organized under the
laws of Delaware (the "Fund"), The Lincoln National Life Insurance Company,
an Indiana life insurance company (the "Company") and Delaware Distributors,
L.P., a Delaware limited partnership (the "Distributor") is effective as of
October 1, 2006.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Schedule 2 of this Agreement shall be deleted and replaced with the
attached Schedule 2.
2. All other terms of the Agreement shall remain in full force and
effect.
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 on the
date specified below.
DELAWARE VIP TRUST (Fund)
Date: 11/6/07 By: /s/ See Xxxx Xxxx
------------------------ ---------------------------------
Name: See Xxxx Xxxx
Title: Executive Vice President
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 2/21/07 By: /s/ Xxxxx X. Xxxxxxxxx
------------------------ ---------------------------------
Xxxxx X. Xxxxxxxxx
Vice President
DELAWARE DISTRIBUTORS, L.P. (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: 11/8/07 By: /s/ Xxxxxxxx X. Xxxxx
------------------------ ---------------------------------
Name: Xxxxxxxx X. Xxxxx
Title: President
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of October 1, 2006
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Assurance (A Share)
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Design
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV)III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
eAnnuity(TM) Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVULONE Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
AMENDMENT TO PARTICIPATION AGREEMENT
This Amendment to the Participation Agreement ("Agreement") dated the
1st day of May, 1996, as amended, between Delaware VIP Trust (formerly
Delaware Group Premium Fund, Inc.), a statutory trust organized under the
laws of Delaware (the "Fund"), The Lincoln National Life Insurance Company,
an Indiana life insurance company (the "Company") and Delaware Distributors,
L.P., a Delaware limited partnership (the "Distributor") is effective as of
May 1, 2007.
AMENDMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, the parties agree to amend the Agreement as follows:
1. Jefferson Pilot Financial Insurance Company, a life insurance company
organized under the laws of the state of Nebraska, is added as a party
to this Agreement until such time as it is merged into The Lincoln
National Life Insurance Company, and together with The Lincoln National
Life Insurance Company, is referred to as the "Company."
2. Article XII Notices - The following information should be added to the
"If to the Company" section:
Jefferson Pilot Financial Insurance Company
Xxx Xxxxxxx Xxxxx
Xxxxxxx, XX 00000
Attn: Xxxx Xxxxxx
3. Schedule 1 of this Agreement shall be deleted and replaced with the
attached Schedule 1.
4. Schedule 2 of this Agreement shall be deleted and replaced with the
attached Schedule 2.
5. All other terms of the Agreement shall remain in full force and effect.
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 on the
date specified below.
DELAWARE VIP TRUST (Fund)
Date: 11/6/07 By: /s/ See Xxxx Xxxx
----------------------- -------------------------------
Name: See Xxxx Xxxx
Title: Executive Vice President
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Date: 12/21/07 By: /s/ Xxxxx X. Xxxxxxxxx
----------------------- -------------------------------
Xxxxx X. Xxxxxxxxx
Vice President
DELAWARE DISTRIBUTORS, L.P. (Distributor), by
DELAWARE DISTRIBUTORS, INC., General Partner
Date: 11/8/07 By: /s/ Xxxxxxxx X. Xxxxx
----------------------- -------------------------------
Name: Xxxxxxxx X. Xxxxx
Title: President
JEFFERSON PILOT FINANCIAL INSURANCE COMPANY
Date: 12/27/07 By: /s/ Xxxx X. Xxxxxx
----------------------- -------------------------------
Xxxx X. Xxxxxx
Vice President
AMENDMENT TO SCHEDULE 1
Separate Accounts of the Company
Investing in the Fund
As of May 1, 2007
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 55
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 87
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
Lincoln Life Separate Account 4k
JPF Separate Account A
JPF Separate Account C
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2007
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Assurance (A Share)
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Design
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
eAnnuity(TM) Variable Annuity Contract
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVULONE Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
Lincoln Ensemble Accumulator VUL
Lincoln Ensemble Protector VUL
Lincoln Ensemble II VUL
Lincoln Ensemble III
Lincoln Ensemble Exec VUL 2006
Lincoln Ensemble Exec
Lincoln Ensemble SVUL
AMENDMENT TO FUND PARTICIPATION AGREEMENT
BETWEEN
DELAWARE VIP TRUST
DELAWARE MANAGEMENT COMPANY
DELAWARE DISTRIBUTORS, L.P.
AND
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
This Amendment is made this 1st day of March, 2009, by and between
Delaware VIP Trust (the "Trust"), Delaware Management Company, a series of
Delaware Management Business Trust (the "Adviser"), Delaware Distributors,
L.P. (the "Distributor") and The Lincoln National Life Insurance Company (the
"Company").
WITNESSETH:
WHEREAS, the Trust, the Adviser, the Distributor and the Company entered
into a Fund Participation Agreement dated May 1, 1996 (the "Agreement"); and
WHEREAS, the parties to the Agreement have determined to amend said
Agreement to insert a new section to the Agreement relating to processing
orders via the National Securities Clearing Corporation ("NSCC"); and;
WHEREAS, the parties have agreed to amend the Agreement to revise the
list of separate accounts for which Funds are made available under the
Agreement, as set forth in the attached Schedule 1;
WHEREAS the parties have agreed to amend the Agreement to revise the
list of variable annuity products and variable life policies investing in the
funds on Schedule 2;
WHEREAS, the parties desire to memorialize the amendment to the
Agreement.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set
forth, and intending to be legally bound, the Agreement shall be amended as
follows:
1. A new Paragraph 1.10 shall be added to Article I as follows:
"1.10 The Trust, the Adviser, the Distributor and the Company intend
that communications, processing and settlement of purchase and redemption
transactions for Shares (collectively, "Share transactions") shall occur
via the Fund/SERV and Networking systems of the National Securities
Clearing Corporation (hereinafter, "NSCC"). Distributor represents and
warrants that it or one of its affiliates: (a) has entered into an
agreement or agreements with NSCC to process transactions via Fund/SERV and
Networking, (b) has met and will continue to meet all of the requirements
to participate in Fund/SERV and Networking, and (c) intends to remain at
all times in compliance with the then-current rules and procedures of NSCC,
all to the extent necessary or appropriate to facilitate such
communications, processing, and settlement of Share transactions. The
Company represents that one or more of its affiliates or its designee (a)
has entered into an agreement or agreements with NSCC to process
transactions via Fund/SERV and Networking and (b) has met and will continue
to meet all of the requirements to participate in Fund/SERV and Networking,
and (c) intends to remain at all times in compliance with the then-current
rules and procedures of NSCC, all to the extent necessary or appropriate
to facilitate such communications, processing, and settlement of Share
transactions. Distributor or Trust agrees to provide the Company or such
other entity as the Company directs with account positions and activity
data relating to Share
transactions via Networking. The Company shall pay for Shares in the
manner and within the time as required by the Fund/SERV and Networking
rules.
For purposes of this Agreement, "Fund/SERV" shall mean NSCC's system for
automated, centralized processing of mutual fund purchase and redemption
orders, settlement, and account registration. "Networking" shall mean
NSCC's (Level Zero) system that allows mutual funds and life insurance
companies to exchange account level information electronically. In all
cases, processing and settlement of Share transactions shall be done in a
manner consistent with applicable law.
In the event that any party is prohibited or unable to communicate,
process or settle Share transactions via Fund/SERV or Networking, such
party shall provide prompt notice to the other parties. After all parties
have been notified, the original provisions contained in the Agreement
regarding process or settlement of Share transactions shall apply.
2. Schedules 1 and 2 of the Agreement is amended and replaced with the
attached Schedules 1 and 2.
3. Except as provided herein, the terms and conditions contained in the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date set forth above.
THE LINCOLN NATIONAL LIFE DELAWARE VIP TRUST
INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxx
------------------- --------------------
Name: Xxxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxx
Title: Vice President Title: President
DELAWARE DISTRIBUTORS, L.P. DELAWARE MANAGEMENT
COMPANY, A SERIES OF
DELAWARE MANAGEMENT
BUSINESS TRUST
By: /s/ Xxxxxxxx X. Xxxxx By: /s/ J. Xxxxx Xxxxxxx
--------------------- --------------------
Name: Xxxxxxxx X. Xxxxx Name: J. Xxxxx Xxxxxxx
Title: President Title: Executive Vice President
SCHEDULE 1
Separate Accounts of the Company
Investing in the Fund
As of March 1, 2009
Lincoln National Variable Annuity Account C
Lincoln Life Flexible Premium Variable Life Account K
Lincoln National Variable Annuity Account L
Lincoln Life Flexible Premium Variable Life Account M
Lincoln Life Variable Annuity Account N
Lincoln Life Variable Annuity Account Q
Lincoln Life Flexible Premium Variable Life Account R
Lincoln Life Flexible Premium Variable Life Account S
Lincoln Life Variable Annuity Account T
Lincoln Life Variable Annuity Account W
Lincoln Life Flexible Premium Variable Life Account Z
Lincoln National Life Insurance Company Separate Account 56
Lincoln National Life Insurance Company Separate Account 61
Lincoln National Life Insurance Company Separate Account 87
Lincoln National Life Insurance Company Separate Account 93
Lincoln National Life Insurance Company Separate Account 94
Lincoln Life Separate Account 4k
JPF Separate Account A
JPF Separate Account C
Lincoln Life Variable Annuity Separate Account JF-I
Lincoln Life Variable Annuity Separate Account JF-II
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of March 1, 2009
VARIABLE ANNUITY CONTRACTS
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (A Share/Class)
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (B Class)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Design
eAnnuity(TM) Variable Annuity Contract
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
VARIABLE LIFE INSURANCE POLICIES
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Lincoln Ensemble Accumulator VUL
Lincoln Ensemble Protector VUL
Lincoln Ensemble II VUL
Lincoln Ensemble III
Lincoln Ensemble Exec VUL 2006
Lincoln Ensemble Exec
Lincoln Ensemble SVUL
AssetEdge VUL
AssetEdge SVUL
Lincoln Corporate Commitment VUL VUL
Pilot Classic Variable Annuity
Pilot Elite Variable Annuity
Allegiance Variable Annuity
AMENDMENT TO FUND PARTICIPATION AGREEMENT
BETWEEN
DELAWARE VIP TRUST
DELAWARE MANAGEMENT COMPANY
DELAWARE DISTRIBUTORS, L.P.
AND
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
This Amendment is made this 1st day of May, 2011, by and between
Delaware VIP Trust (the "Trust"), Delaware Management Company, a series of
Delaware Management Business Trust (the "Adviser"), Delaware Distributors,
L.P. (the "Distributor") and The Lincoln National Life Insurance Company (the
"Company").
WITNESSETH:
WHEREAS, the Trust, the Adviser, the Distributor and the Company entered
into a Fund Participation Agreement dated May 1, 1996 (the "Agreement"); and
WHEREAS the parties have agreed to amend the Agreement to revise the
list of variable annuity products and variable life policies investing in the
funds on Schedule 2;
WHEREAS, the parties desire to memorialize the amendment to the
Agreement.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set
forth, and intending to be legally bound, the Agreement shall be amended as
follows:
1. Schedule 2 of the Agreement is amended and replaced with the
attached Schedule
2. Except as provided herein, the terms and conditions contained in
the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date set forth above.
THE LINCOLN NATIONAL LIFE DELAWARE VIP TRUST
INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxx
Title: Vice President Title: President
DELAWARE DISTRIBUTORS, L.P. DELAWARE MANAGEMENT COMPANY,
A SERIES OF DELAWARE MANAGEMENT
BUSINESS TRUST
By: /s/ Xxxxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxx
Title: Executive Vice President Title: President
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of May 1, 2011
VARIABLE ANNUITY CONTRACTS
Multi Fund(R) Individual Variable Annuity Contract
(Registered and non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (A Share/Class)
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (B Class)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Design
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Rollover
Lincoln ChoicePlus Signature
Lincoln InvestmentSolutions
eAnnuity(TM) Variable Annuity Contract
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
VARIABLE LIFE INSURANCE POLICIES
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2010
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Lincoln Ensemble Accumulator VUL
Lincoln Ensemble Protector VUL
Lincoln Ensemble II VUL
Lincoln Ensemble III
Lincoln Ensemble Exec VUL 2006
Lincoln Ensemble Exec
Lincoln Ensemble SVUL
AssetEdge VUL
AssetEdge SVUL
Lincoln Corporate Commitment Variable Universal Life
Pilot Classic Variable Annuity
Pilot Elite Variable Annuity
Allegiance Variable Annuity
Private Placement Variable Universal Life
AMENDMENT TO FUND PARTICIPATION AGREEMENT
BETWEEN
DELAWARE VIP TRUST
DELAWARE MANAGEMENT COMPANY
DELAWARE DISTRIBUTORS, L.P.
AND
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
This Amendment is made this 31st day of October, 2011, by and between
Delaware VIP Trust (the "Trust"), Delaware Management Company, a series of
Delaware Management Business Trust (the "Adviser"), Delaware Distributors,
L.P. (the "Distributor") and The Lincoln National Life Insurance Company (the
"Company").
WITNESSETH:
WHEREAS, the Trust, the Adviser, the Distributor and the Company entered
into a Fund Participation Agreement dated May 1, 1996 (the "Agreement"); and
WHEREAS the parties have agreed to amend the Agreement to revise the
list of variable annuity products and variable life policies investing in the
funds on Schedule 2;
WHEREAS, the parties desire to memorialize the amendment to the
Agreement.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set
forth, and intending to be legally bound, the Agreement shall be amended as
follows:
3. Schedule 2 of the Agreement is amended and replaced with the
attached Schedule 2.
4. Except as provided herein, the terms and conditions contained in
the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date set forth above.
THE LINCOLN NATIONAL LIFE DELAWARE VIP TRUST
INSURANCE COMPANY
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxx
Title: Vice President Title: President
DELAWARE DISTRIBUTORS, L.P. DELAWARE MANAGEMENT COMPANY,
a series of Delaware Management
Business Trust
By: /s/ J. Xxxxx Xxxxxxx By: /s/ Xxxxx X. X'Xxxxxx
Name: J. Xxxxx Xxxxxxx Name: Xxxxx X. X'Xxxxxx
Title: President Title: Senior Vice President
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of October 31, 2011
VARIABLE ANNUITY CONTRACTS
Multi Fund(R) Individual Variable Annuity Contract
(Registered and non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) 5 Retirement Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (A Share/Class)
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (B Class)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Design
Lincoln ChoicePlus Fusion
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Rollover
Lincoln ChoicePlus Signature
Lincoln InvestmentSolutions
eAnnuity(TM) Variable Annuity Contract
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
VARIABLE LIFE INSURANCE POLICIES
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2010
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Lincoln Ensemble Accumulator VUL
Lincoln Ensemble Protector VUL
Lincoln Ensemble II VUL
Lincoln Ensemble III
Lincoln Ensemble Exec VUL 2006
Lincoln Ensemble Exec
Lincoln Ensemble SVUL
AssetEdge VUL
AssetEdge SVUL
Lincoln Corporate Commitment Variable Universal Life
Pilot Classic Variable Annuity
Pilot Elite Variable Annuity
Allegiance Variable Annuity
Private Placement Variable Universal Life
AMENDMENT TO FUND PARTICIPATION AGREEMENT
BETWEEN
DELAWARE VIP TRUST
DELAWARE MANAGEMENT COMPANY
DELAWARE DISTRIBUTORS, L.P.
AND
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
This Amendment is made this 1st day of July, 2013, by and between Delaware
VIP Trust (the "Trust"), Delaware Management Company, a series of Delaware
Management Business Trust (the "Adviser"), Delaware Distributors, L.P. (the
"Distributor") and The Lincoln National Life Insurance Company (the "Company").
WITNESSETH:
WHEREAS, the Trust, the Adviser, the Distributor and the Company entered
into a Fund Participation Agreement dated May 1, 1996 (the "Agreement"); and
WHEREAS the parties have agreed to amend the Agreement to revise the list
of variable annuity products and variable life policies investing in the funds
on Schedule 2;
WHEREAS, the parties desire to memorialize the amendment to the Agreement.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set
forth, and intending to be legally bound, the Agreement shall be amended as
follows:
1. Schedule 2 of the Agreement is amended and replaced with the attached
Schedule 2.
2. Except as provided herein, the terms and conditions contained in the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date set forth above.
THE LINCOLN NATIONAL LIFE DELAWARE VIP TRUST
INSURANCE COMPANY
By:/s/ Xxxxxx X. Xxxxx By:/s/ Xxxxxxx X. Xxxxx
------------------- ------------------------
Name: Xxxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxx
Title: Vice President Title: President
DELAWARE DISTRIBUTORS, L.P. DELAWARE MANAGEMENT COMPANY,
A SERIES OF DELAWARE MANAGEMENT BUSINESS
TRUST
By: /s/ J. Xxxxx Xxxxxxx By: /s/ Xxxxxxx X. Xxxxx
--------------------- -----------------------
Name: J. Xxxxx Xxxxxxx Name: Xxxxxxx X. Xxxxx
Title: President Title: President
AMENDMENT TO SCHEDULE 2
Variable Annuity Contracts and Variable Life Insurance Policies
Supported by Separate Accounts Listed on Schedule 1
As of July 1, 2013
VARIABLE ANNUITY CONTRACTS
Multi Fund(R) Individual Variable Annuity Contract (Registered and
non-registered)
Multi Fund(R) 5 Individual Variable Annuity Contract
Multi Fund(R) 5 Retirement Annuity Contract
Multi Fund(R) Select Individual Variable Annuity Contract
Multi Fund(R) Variable Life Insurance Policy
Multi Fund(R) Group Variable Annuity Contract
Lincoln ChoicePlus Variable Annuity Contract
Lincoln ChoicePlus Access Variable Annuity Contract
Lincoln ChoicePlus Bonus Variable Annuity Contract
Lincoln ChoicePlus II Variable Annuity Contract
Lincoln ChoicePlus II Access Variable Annuity Contract
Lincoln ChoicePlus II Bonus Variable Annuity Contract
Lincoln ChoicePlus II Advance Variable Annuity Contract
Lincoln ChoicePlus Assurance (A Share/Class)
Lincoln ChoicePlus Assurance (B Share)
Lincoln ChoicePlus Assurance (B Class)
Lincoln ChoicePlus Assurance (C Share)
Lincoln ChoicePlus Assurance (L Share)
Lincoln ChoicePlus Assurance (Bonus)
Lincoln ChoicePlus Assurance (Prime)
Lincoln ChoicePlus Assurance (Series)
Lincoln ChoicePlus Design
Lincoln ChoicePlus Fusion
Lincoln ChoicePlus Momentum Income Option
Lincoln ChoicePlus Rollover
Lincoln ChoicePlus Signature
Lincoln InvestmentSolutions
eAnnuity(TM) Variable Annuity Contract
Group Variable Annuity (GVA) I, II, III
New Directions Core
New Directions Access
New Directions Access 4
Individual Variable Annuity B Share
Individual Variable Annuity C Share
Lincoln Life Director(TM)
Lincoln American Legacy Retirement Group Variable Annuity
VARIABLE LIFE INSURANCE POLICIES
Lincoln VUL I Variable Universal Life Insurance Policy
Lincoln VUL(DB) Variable Universal Life Insurance Policy
Lincoln VUL(DB) II Variable Universal Life Insurance Policy
Lincoln VUL(DB) IV Variable Universal Life Insurance Policy
Lincoln VUL(CV) Variable Universal Life Insurance Policy
Lincoln VUL(CV) II Variable Universal Life Insurance Policy
Lincoln VULFlex Variable Universal Life Insurance Policy
Lincoln VUL(CV) III Variable Universal Life Insurance Policy
Lincoln VUL(CV) IV Variable Universal Life Insurance Policy
Lincoln VUL(ONE) Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2005 Variable Universal Life Insurance Policy
Lincoln Momentum VUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln Momentum SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln Money Guard Variable Universal Life Policy
Lincoln SVUL Variable Universal Life Insurance Policy
Lincoln SVUL I Variable Universal Life Insurance Policy
Lincoln SVUL II Variable Universal Life Insurance Policy
Lincoln SVUL III Variable Universal Life Insurance Policy
Lincoln SVUL IV Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) Variable Universal Life Insurance Policy
Lincoln SVUL(ONE) 2007 Variable Universal Life Insurance Policy
Lincoln VUL(ONE) 2010
Lincoln CVUL Variable Universal Life Insurance Policy
Lincoln CVUL Series III Variable Universal Life Insurance Policy
Lincoln Corporate Variable 4
Lincoln Corporate Variable 5
Lincoln Corporate Variable Private Solutions
Lincoln Ensemble Accumulator VUL
Lincoln Ensemble Protector VUL
Lincoln Ensemble II VUL
Lincoln Ensemble III
Lincoln Ensemble Exec VUL 2006
Lincoln Ensemble Exec
Lincoln Ensemble SVUL
AssetEdge VUL
AssetEdge SVUL
Lincoln Corporate Commitment Variable Universal Life
Pilot Classic Variable Annuity
Pilot Elite Variable Annuity
Allegiance Variable Annuity
Private Placement Variable Universal Life
