EX-8.(O)(V) 8 e31125ex_8ov.txt FORM OF AMENDMENT 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: -1- 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: Carl Verboncoeur Title: CEO RYDEX DISTRIBUTORS, INC. By:______________________ Name: Carl Verboncoeur Title: CEO JEFFERSON NATIONAL LIFE INSURANCE By:______________________ Name: Craig A. Hawley Title: General Counsel and Secretary -2- 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 (22-4047132-4003 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 Amerigo Mid Cap 1.5x Strategy CLS AdvisorOne Clermont Russell 2000 1.5x Strategy Inverse NASDAQ 100 Mid-Cap Growth Banking Mid-Cap Value Basic Materials Nova Biotechnology NASDAQ 100 Consumer Products Precious Metals Russell 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 Russell 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 -3- 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 Amerigo 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 Russell 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 Russell 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 Russell 2000 Strategy -4-