Exhibit 99.B(8)(b)(xxi)
AMENDMENT NO. 5 TO
PARTICIPATION AGREEMENT
AMONG
LINCOLN NATIONAL LIFE INSURANCE COMPANY, LINCOLN LIFE & ANNUITY
COMPANY OF NEW YORK,
PIMCO VARIABLE INSURANCE TRUST,
AND
ALLIANZ GLOBAL INVESTORS DISTRIBUTORS LLC
THE PARTICIPATION AGREEMENT, dated May 1, 2001 (the "Agreement"), by and
among the Lincoln National Life Insurance Company, and Lincoln Life & Annuity
Company of New York (collectively, the "Company"), PIMCO Variable Insurance
Trust (the "Fund") and Allianz Global Investors Distributors LLC (the
"Underwriter"), is hereby amended as follows:
1. Schedule A is revised to reflect Portfolios of the Fund currently
offered and additional separate accounts have been added to the
list of Segregated Asset Accounts under Schedule A
2. All other terms of the Agreement shall remain in full force and
effect.
Effective May 1, 2014, regardless of when executed.
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to
be executed in its name and on its behalf by its duly authorized representative
and its seal to be hereunder affixed hereto as of the date specified below.
(Signatures located on following page)
LINCOLN NATIONAL LIFE INSURANCE COMPANY
By its authorized officer
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
Date: 5/1/14
LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
By its authorized officer
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
Date: 5/1/14
PIMCO VARIABLE INSURANCE TRUST:
By its authorized officer
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Vice President
Date: 4/28/14
ALLIANZ GLOBAL INVESTORS DISTRIBUTORS LLC:
By its authorized officer
By: /s/ ▇▇▇▇▇▇ Plump
-------------------------------------
Name: ▇▇▇▇▇▇ Plump
Title: Head of Business Management
Date: 4/29/14
SCHEDULE A
The term "Designated Portfolio" of the Fund will include any currently offered
class of any Portfolio of the Fund (as listed below) as well as any Portfolio of
the Fund or any share class of any Portfolio (now existing or hereafter created)
created subsequent to the date hereof.
DESIGNATED PORTFOLIOS/CLASSES:
ADMINISTRATIVE CLASS SHARES
All Asset Portfolio
All Asset All Authority
CommodityRealReturn(R) Strategy Portfolio
Diversified Income Portfolio
Emerging Markets Bond Portfolio
Foreign Bond Portfolio (Unhedged)
Foreign Bond Portfolio (U.S. Dollar-Hedged)
Global Bond Portfolio (Unhedged)
Global Multi-Asset Portfolio
High Yield Portfolio
Long-Term U.S. Government Portfolio
Low Duration Portfolio
Money Market Portfolio
Real Return Portfolio
SmallCap StocksPLUS(R) TR Portfolio
Short-Term Portfolio
StocksPLUS(R) Growth and Income Portfolio
Total Return Portfolio
INSTITUTIONAL CLASS SHARES
All Asset Portfolio
All Asset All Authority
CommodityRealReturn(R) Strategy Portfolio
Diversified Income Portfolio
Emerging Markets Bond Portfolio
Foreign Bond Portfolio (Unhedged)
Foreign Bond Portfolio (U.S. Dollar-Hedged)
Global Bond Portfolio (Unhedged)
High Yield Portfolio
Long-Term U.S. Government Portfolio
Low Duration Portfolio
Money Market Portfolio
Real Return Portfolio
Short-Term Portfolio
StocksPLUS(R) Growth and Income Portfolio
StocksPLUS(R) Total Return Portfolio
Total Return Portfolio
Total Return Portfolio II
Unconstrained Bond Portfolio
ADVISOR CLASS SHARES
All Asset Portfolio
All Asset All Authority Portfolio
CommodityRealReturn(R) Strategy Portfolio
Emerging Markets Bond Portfolio
Foreign Bond Portfolio (Unhedged)
Global Bond Portfolio (Unhedged)
Global Multi-Asset Portfolio
High Yield Portfolio
Low Duration Portfolio
Real Return Portfolio
SmallCap StocksPLUS(R) TR Portfolio
StocksPLUS(R) Total Return Portfolio
Total Return Portfolio
Unconstrained Bond Portfolio
M CLASS SHARES
All Asset Portfolio
All Asset All Authority Portfolio
SEGREGATED ASSET ACCOUNTS:
Separate Account Established Date
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Lincoln National Variable Annuity Account C June 3, 1997
Lincoln Life Variable Annuity Account N November 3, 1997
Lincoln Life Flexible Premium Variable Life Account M December 17, 1997
Lincoln Life Flexible Premium Variable Life Account R December 23, 1997
Lincoln Life Flexible Premium Variable Life Account S December 24, 1999
Lincoln Life Flexible Premium Variable Life Account Z July 30, 2003
Lincoln Life Flexible Premium Variable Life Account M December 17, 1997
Lincoln New York Account N for Variable Annuities March 11, 1999
LLANY Separate Account R for Flexible Premium Variable Life Insurance February 11, 1998
LLANY Separate Account S for Flexible Premium Variable Life Insurance March 12, 1999
Lincoln Life & Annuity Flexible Premium Variable Life Account Z June 21, 2006