The Lincoln National Life Insurance Company

  

  

  ENDORSEMENT

  

  

  This Endorsement is made a part of the Contract to which it is attached. Except as stated in this Endorsement, it is subject to all provisions of the Contract. In the event of a conflict with any provision of the
    Contract, the provisions of this Endorsement will control. This Endorsement takes effect on the Endorsement Effective Date shown under Specifications.

  

  

  This Endorsement describes the impact, if any, of an Advisory Fee Withdrawal on any Rider(s) that may be attached to the Contract. An Advisory Fee Withdrawal is the amount withdrawn from the Contract Value to satisfy the
    Owner’s obligation to pay a financial professional directly for his or her work pursuant to an advisory agreement.

  

  

  Advisory Fee Withdrawals will be subject to the withdrawals and surrender provisions of the Contract and any Rider(s) that may be attached to the Contract, except as described in this Endorsement.

  

  

  Rider(s), for the purposes of this Endorsement, means any rider shown under Specifications.

   

  

  SPECIFICATIONS

  Endorsement Effective Date: July 15, 2020

  Contract Number: 0123456

  Owner(s): John Doe

  

  

  Minimum Annual Advisory Fee Withdrawal Rate: 0.10%

  

  

  Guaranteed Minimum Annual Advisory Fee Withdrawal Rate: 1.00%

  

  

  Annual Advisory Fee Percentage Limit: 1.50%

  

  

  Rider(s): for the purposes of this Endorsement, means the Guarantee of Principal Death Benefit Rider, form ICC16-32148 that may be attached to the Contract.

  

  

  Impact of Advisory Fee Withdrawals

  Advisory Fee Withdrawals will impact the benefits and values provided by any Rider(s) that may be attached to the Contract as follows:

  
    	
            (a)

          	
            If the Cumulative Advisory Fee Withdrawal Percentage is less than or equal to the Maximum Annual Advisory Fee Withdrawal Rate, the total amount withdrawn for Advisory Fee(s) will not be treated
              as a withdrawal as described in any Rider(s) attached to the Contract; and

          


  

  
    	
            (b)

          	
            If the Cumulative Advisory Fee Withdrawal Percentage exceeds the Maximum Annual Advisory Fee Withdrawal Rate, the amount of the Advisory Fee(s) that resulted in the excess Cumulative Advisory
              Fee Withdrawal Percentage will be treated as a withdrawal as described in Rider(s) attached to the Contract.

          


  

  

  

  The Contract Value of the Contract to which this Endorsement and the Rider(s) are attached, will be reduced by the amount of each Advisory Fee Withdrawal taken, regardless of the amount taken during the Contract Year.

  

  

  
    
      


  

  

  

  Maximum Annual Advisory Fee Withdrawal Rate 

  The Maximum Annual Advisory Fee Withdrawal Rate is the percentage of the Contract Value that We will use to determine if the amount withdrawn for Advisory Fee(s) will be treated as a Withdrawal as described in any
    Rider(s) attached to the Contract. We will declare, at Our discretion, the rate that applies to the Contract, subject to the Minimum Annual Advisory Fee Withdrawal Rate shown under Specifications. 

  

  

  We reserve the right to increase or decrease the Maximum Annual Advisory Fee Withdrawal Rate at any time upon advance written notice to the Owner. The rate that applies to the Contract will never be less than the Minimum
    Annual Advisory Fee Withdrawal Rate shown under Specifications.

  

  

  If an Advisory Fee is withdrawn prior to the date We reduce the Maximum Annual Advisory Fee Withdrawal Rate currently in effect and such reduction would result in a rate less than the Guaranteed Minimum Annual Advisory
    Fee Withdrawal Rate shown under Specifications, the Maximum Annual Advisory Fee Withdrawal Rate that applies to the Contract will be the Guaranteed Minimum Annual Advisory Fee Withdrawal Rate.

  

  

  Cumulative Advisory Fee Withdrawal Percentage

  The Cumulative Advisory Fee Withdrawal Percentage is the sum of the Advisory Fee Withdrawal Percentage(s) determined for each withdrawal of an Advisory Fee during a Contract Year. Any withdrawal of an
    Advisory Fee on the Contract Date anniversary will be processed by Us as if it were withdrawn during the prior Contract Year.

  

  

  Each Advisory Fee Withdrawal Percentage is determined by A divided by B, where:

  A = the amount withdrawn from the Contract Value for the Advisory Fee;
    and

  B = the Contract Value immediately prior to the Advisory Fee Withdrawal.

  

  

  Annual Advisory Fee Percentage Limit

  During any Contract Year, the Cumulative Advisory Fee Withdrawal Percentage may not exceed the Annual Advisory Fee Percentage Limit shown under Specifications.

   

  

  Termination

  This Endorsement will terminate upon the date the Contract to which this Endorsement is attached is terminated.