Exhibit 8(o)(v)
SECOND AMENDMENT TO FUND
PARTICIPATION AGREEMENT
AMONG
RYDEX VARIABLE TRUST,
RYDEX DISTRIBUTORS, INC,
and
JEFFERSON NATIONAL LIFE INSURANCE COMPANY
WHEREAS, Rydex Variable Trust (the "Trust"), Rydex Distributors, Inc. (the
"Underwriter") and Jefferson National Life Insurance Company (the "Company") are
parties to a Participation Agreement dated March 24, 2000, as amended November
1, 2006 (the "Agreement"); and
WHEREAS, terms of the Agreement contemplate that it may be amended with the
mutual agreement of the parties; and
WHEREAS, the parties wish to change the use of the terms "Account," "Contract,"
and "Fund" in such a way that the Accounts, Contracts, and the Funds need not be
listed on Exhibit A to the Agreement, but nonetheless, for convenience the
parties may determine to list them on Exhibit A; and
WHEREAS, capitalized terms used but not defined in this Amendment, shall have
the meaning given them in the Agreement; and
WHEREAS, all other terms of the Agreement shall remain in full force and effect;
NOW, THEREFORE, in consideration of their mutual promises, the Company,
the Trust and the Underwriter agree to amend the Agreement as follows:
1. The first paragraph of the Agreement is hereby deleted and replaced with the
following:
THIS AGREEMENT, made and entered into as of the 24th day of March, 2000 by
and among JEFFERSON NATIONAL LIFE INSURANCE COMPANY (hereinafter the
"Company"), a Texas Corporation on its own behalf and on behalf of each
Account (defined below), RYDEX VARIABLE TRUST (hereinafter the "Trust"), a
Delaware business trust, and RYDEX DISTRIBUTORS, INC. (hereinafter the
"Underwriter"), a Maryland corporation.
2. The third recital clause of the Agreement is hereby deleted and replaced with
the following:
WHEREAS, beneficial interests in the Trust are divided into several series
of interest or shares, each representing the interest in a particular
managed portfolio of securities and other assets, any one or more of which
may be made available under this Agreement (each such series is
hereinafter referred to as a "Fund"); and
3. The seventh recital clause of the Agreement is hereby deleted and replaced
with the following:
WHEREAS, the Variable Insurance Products issued or that will be issued by
the Company ("Contracts") have been or will be registered by the Company
under the 1933 Act, unless such Contracts are exempt from registration
thereunder; and
4. The eighth recital clause of the Agreement is hereby deleted and replaced
with the following
WHEREAS, each Account is a duly organized, validly existing segregated
asset account, established by resolution or under authority of the Board
of Directors of the Company to set aside and invest assets attributable to
the aforesaid Contracts; and
5. The tenth recital clause of the Agreement is hereby deleted and replaced with
the following:
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WHEREAS, to the extent permitted by applicable insurance laws and
regulations, the Company intends to purchase shares in the Funds on behalf
of each Account to fund the aforesaid Contract, and the Underwriter is
authorized to sell such shares to the Account at net asset value;
6. Section 1.6 is hereby deleted and replaced with the following:
The Company agrees that purchases and redemptions of Fund shares offered
by the then current prospectus of the Trust shall be made in accordance
with the provisions of such prospectus, provided however, that the
provisions of the then current Fund prospectus will not be deemed to alter
any provision of Section 1.1 or 1.5.
7. The following new Section 1.11 is hereby added to the Agreement:
It is agreed that Company, on behalf of an Account, has access under this
Agreement to all Funds of the Trust and all share classes thereof
(including Funds and share classes created in the future) and that it
shall not be necessary to list the Accounts, the Contracts, the Funds or
the share classes on Exhibit A. It is further agreed that a segregated
asset account of the Company shall become an "Account" hereunder as of the
date such segregated asset account first invests in a Fund. A series of
the Trust shall become a "Fund" hereunder as of the date an Account first
invests in such Fund. Notwithstanding the fact that Accounts, Contracts,
and Funds need not be listed on Exhibit A, the parties may, in their
discretion and for convenience and ease of reference only, include one or
more Accounts, Contracts and Funds on Exhibit A from time to time.
8. The existing Exhibit A is deleted in its entirety and replaced with the
accompanying Exhibit A.
IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment
Number 3 to the Agreement to be executed in its name and on its behalf by its
duly authorized representative as of March 31, 2008.
RYDEX VARIABLE TRUST
By:______________________
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
Title: CEO
RYDEX DISTRIBUTORS, INC.
By:______________________
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
Title: CEO
JEFFERSON NATIONAL LIFE INSURANCE
By:______________________
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: General Counsel and Secretary
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EXHIBIT A
LIST OF PARTICIPATING FUNDS
The following funds are available in Jefferson National Life Annuity
Account C (22-4025 Individual and 32-4000 Group), Jefferson National Life
Annuity Account E (▇▇-▇▇▇▇▇▇▇-▇▇▇▇ and 22- 4048132-4002), Jefferson National
Life Annuity Account F (22-4061), Jefferson National Life Annuity Account H
(CVIC-2000 or 2001), Jefferson National Life Annuity Account I (CVIC-2004 or
2005), Jefferson National Life Annuity Account J (JNL-2100), Jefferson National
Life Annuity Account K (JNL-2200), Jefferson National Life Account L (CVIC-1001
and 1003), and Jefferson National Life Advisor Variable Annuity Account
(22-4058):
CLS AdvisorOne ▇▇▇▇▇▇▇ Mid Cap 1.5x Strategy
CLS AdvisorOne ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 2000 1.5x Strategy
Inverse NASDAQ 100 Mid-Cap Growth
Banking Mid-Cap Value
Basic Materials Nova
Biotechnology NASDAQ 100
Consumer Products Precious Metals
▇▇▇▇▇▇▇ 2000 2x Strategy Real Estate
Electronics Retailing
Energy Sector Rotation
Energy Services Small-Cap Growth
Essential Portfolio Aggressive Small-Cap Value
Essential Portfolio Conservative Technology
Essential Portfolio Moderate Telecommunications
Financial Services S&P 500 2x Strategy
Health Care Transportation
Internet lnverse S&P 500 Strategy
lnverse Dow 2x Strategy Government Long Bond 1.2x Strategy
lnverse Mid-Cap Strategy US Government Money Market
lnverse ▇▇▇▇▇▇▇ 2000 Strategy Utilities
lnverse Government Long Bond Strategy OTC 2x Strategy
Europe 1.25x Strategy Commodities Strategy
Japan 1.25x Strategy Strengthening Dollar 2x Strategy
Large-Cap Growth Weakening Dollar 2x Strategy
Large-Cap Value Multi-Cap Core Equity
Leisure Absolute Return Strategies
Dow 2x Strategy Hedged Equity
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The following funds are available in Jefferson National Life Annuity Account G
(JNL-2300, JNL-2300-1, and JNL-2300-2):
Absolute Return Strategies lnverse S&P 500 Strategy
CLS AdvisorOne ▇▇▇▇▇▇▇ Government Long Bond 1.2x Strategy
CLS AdvisorOne Clermont Hedged Equity
Banking Japan 1.25x Strategy
Basic Materials Large-Cap Growth
Biotechnology Large-Cap Value
Commodities Strategy Leisure
Consumer Products Mid Cap 1.5x Strategy
Dow 2x Strategy Multi-Cap Core Equity
NASDAQ 100 2x Strategy Mid-Cap Growth
▇▇▇▇▇▇▇ 2000 2x Strategy Mid-Cap Value
S&P 500 2x Strategy Nova
Strengthening Dollar 2x Strategy NASDAQ 100
Weakening Dollar 2x Strategy Precious Metals
Electronics Real Estate
Energy Retailing
Energy Services ▇▇▇▇▇▇▇ 2000 1.5x Strategy
Essential Portfolio Aggressive Sector Rotation
Essential Portfolio Conservative Small-Cap Growth
Essential Portfolio Moderate Small-Cap Value
Europe 1.25x Strategy Technology
Financial Services Telecommunications
Health Care Transportation
Internet US Government Money Market
lnverse Government Long Bond Strategy Utilities
lnverse Dow 2x Strategy International Rotation Fund
lnverse Mid-Cap Strategy Alternative Strategies
lnverse NASDAQ 100 Strategy Allocation Fund
lnverse ▇▇▇▇▇▇▇ 2000 Strategy
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