EX-99.(B)(8)(P)(III) 4 c47748_ex99-b8piii.txt Exhibit 99(b)(8)(p)(iii) SECOND AMENDMENT TO PARTICIPATION AGREEMENT This Second Amendment to Participation Agreement ("Amendment") is entered into as of April 28, 2007 by and among LEGG MASON INVESTOR SERVICES, LLC, (the "Distributor"), and JEFFERSON NATIONAL LIFE INSURANCE COMPANY, (the "Company" or "You"). WHEREAS, the parties desire to amend the agreement to reflect the name change of the Trust Entities and the Fund names; WHEREAS, the parties entered into a Participation Agreement dated May 1, 2004 with an amendment dated May 1, 2005, (the "Agreement"); WHEREAS, the parties desire to amend Schedule A to the Participation Agreement; NOW, THEREFORE, in consideration of these premises and the terms and conditions set forth herein, the parties agree as follows: 1. Schedule A of the Agreement shall be deleted in its entirety and replaced with Schedule A attached hereto. 2. OTHER TERMS. Other than the foregoing, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect and are ratified and confirmed in all respects by the parties to this Amendment. IN WITNESS WHEREOF, You and Distributor have caused this Amendment to be executed and delivered as of the date first above written. LEGG MASON INVESTOR SERVICES, LLC JEFFERSON NATIONAL LIFE INSURANCE COMPANY By: By: --------------------------- ------------------------------ Name: Joel Sauber Name: Craig A. Hawley Title: Managing Director Title: Secretary & General Counsel Date: Date: February 27, 2007 --------------------------- 1 SCHEDULE A -------------------------------------------------------------------------------- OLD FUND NAME NEW FUND NAME CUSIP/CLASS -------------------------------------------------------------------------------- Salomon Brothers Variable Legg Mason Partners Variable 52467K813 Strategic Bond Fund Strategic Bond Portfolio Class I -------------------------------------------------------------------------------- Salomon Brothers Variable All Legg Mason Partners Variable 52467W858 Cap Fund Fundamental Value Portfolio* Class I -------------------------------------------------------------------------------- Salomon Brothers Variable Legg Mason Partners Variable 52467X609 Large Cap Growth Fund Large Cap Growth Portfolio* Single Class -------------------------------------------------------------------------------- Salomon Brothers Variable Legg Mason Partners Variable TBD Total Return Fund Capital and Income Portfolio* Class I -------------------------------------------------------------------------------- Salomon Brothers Variable High Legg Mason Partners Variable 52467K839 Yield Bond Fund Global High Yield Bond Class I Portfolio -------------------------------------------------------------------------------- Salomon Brothers Variable Legg Mason Partners Variable 52467X203 Aggressive Growth Fund Aggressive Growth Portfolio* Single Class -------------------------------------------------------------------------------- SB Government Portfolio Legg Mason Partners Variable 52467K854 Government Portfolio Class I -------------------------------------------------------------------------------- *Surviving fund into which old fund merged. ------------------------------------------------------------------------ ACCOUNT(S) FORM # ------------------------------------------------------------------------ [Jefferson National Life Annuity Account C] [22-4025 (Individual) 32-4000 (Group)] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account E] [22-4047 (Achievement), 32-4002 (Educator)] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account F] [22-4061] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account G] [22-4056; JNL-2300, JNL-2300-1, JNL-2300-2] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account H] [CVIC-2000 or 2001 (state specific)] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account I] [CVIC-2004 or 2005 (state specific)] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account J] [JNL-2100] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account K] [JNL-2200] ------------------------------------------------------------------------ [Jefferson National Life Annuity Account L] [CVIC-1001, CVIC-1003] ------------------------------------------------------------------------ 2