AMENDMENT NO. 4 TO PARTICIPATION AGREEMENT

THIS AMENDMENT NO. 4 TO THE AGREEMENT by and among The Lincoln National Life Insurance Company (hereinafter, the “Company”), an Indiana life insurance company, and the T. Rowe Price International Series, Inc., a corporation organized under the laws of Maryland, T. Rowe Price Equity Series, Inc., a corporation organized under the laws of Maryland (which together with the T. Rowe Price International Series, Inc. shall be collectively referred to as the “Funds”) and T. Rowe Price Investment Services, Inc. (hereinafter the “Underwriter”), a Maryland corporation is effective as of October 10, 2011.

WHEREAS, the Company, the Funds and Underwriter are parties to that certain Participation Agreement dated October 1, 1996, as amended, (the “Agreement”); and

WHEREAS, the parties desire to amend Schedule A of the Agreement;

NOW, THEREFORE, in consideration of their mutual promises, the Company, the Funds and the Underwriter agree as follows:

1. Schedule A of the Agreement is deleted and replaced in its entirety by the attached Schedule A.

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 Agreement to be executed in its name and on its behalf by its duly authorized representative as of the date first above written.

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY

By its authorized officer

By:  /s/ Daniel R. Hayes

Name:  Daniel R. Hayes

Title:           Vice President

T. ROWE PRICE INTERNATIONAL SERIES, INC.

By its authorized officer

By:  /s/ David Oestreicher

Name:  David Oestreicher

Title:  Vice President

T. ROWE PRICE EQUITY SERIES, INC.

By its authorized officer

By: /s/ David Oestreicher

Name: David Oestreicher

Title:  Vice President

T. ROWE PRICE INVESTMENT SERVICES, INC.

By its authorized officer

By: /s/ Fran Pollack-Matz

Name: Fran Pollack-Matz

Title:  Vice President

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SCHEDULE A

Effective as of October 10, 2011

Name of Separate Account and Date Established by Board of Directors	Contracts Funded by Separate Account	Designated Portfolios
Lincoln National Variable Annuity Account L April 29, 1996	Group Variable Annuity	T. Rowe Price International Series, Inc. T. Rowe Price International Stock Portfolio
Lincoln Life Flexible Premium Variable Life Account Z July 30, 2003	Lincoln Corporate Variable Private Solutions	T. Rowe Price Equity Series, Inc. T. Rowe Price Mid-Cap Growth Portfolio T. Rowe Price Equity Income Portfolio T. Rowe Price International Series, Inc. T. Rowe Price International Stock Portfolio
Lincoln Life Flexible Premium Variable Life Account S November 2, 1998	Lincoln Corporate Variable Private Solutions	T. Rowe Price Equity Income Portfolio

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