Document:

Exhibit (4)(s)

 

JEFFERSON NATIONAL LIFE
INSURANCE COMPANY

Home Office: Dallas, Texas
75201

Administrative
Office: 10350 Ormsby Park Place, Louisville, Kentucky 40223

Telephone:
1-866-667-0561

(hereinafter called the Company)

 

LOW COST FUND PLATFORM FEE ENDORSEMENT

The Contract to which this Endorsement
applies (hereinafter referred to as “Contract”) shall be modified in the following particulars effective as of the
effective date set forth below. In the case of a conflict with any provision in the Contract, the terms of this Endorsement will
control.

 

		1.	The following definition is modified in
the CONTRACT SCHEDULE section of the Contract:

 

SUBSCRIPTION FEE:

The Subscription Fee is $20.00
and is deducted each month. The Subscription Fee will be deducted on a pro-rata basis first from the balance of any money market
account(s), and then pro-rata from the balance of any other account(s). The Subscription Fee is deducted at Death and upon full
surrender of the Contract. The Subscription Fee is waived during periods in which 100% of the Contract Value is invested in Sub-Accounts
which are subject to the Low Cost Fund Platform Fee.

		2.	The following definition
is deleted in its entirety from the CONTRACT SCHEDULE section of the Contract:

 

			TRANSACTION FEE:

The Company imposes a Transaction Fee for transfers
into and transfers out of certain Sub-Accounts. A listing of the Sub-Accounts for which the Company imposes a Transaction Fee is
available at the Company’s Website or upon request. The Transaction Fee is waived for transfers required for payment of the
Subscription Fee or fees charged by any investment adviser you hire. Transaction Fees are charged twice – once for the transfer
out, and once for the transfer in – when transferring between two Sub-Accounts that impose Transaction Fees. The Transaction
Fee will be deducted first from the Sub-Accounts affected, then pro-rata first from the balance of any money market account(s),
and then pro-rata from the balance of any other account(s). The Transaction Fee will never be greater than $74.99 for a single
transfer and the Company may charge a lesser Transaction Fee amount.

 

		3.	The following term is added to the CONTRACT
SCHEDULE section of the Contract: 

 

LOW COST FUND PLATFORM FEE:

The Company imposes a Low Cost Fund Platform
Fee of [35] basis points on Contract Value invested in certain Sub-Accounts. A listing of the Sub-Accounts for which the Company
imposes the Low Cost Fund Platform Fee is available on the Company’s Website, the product prospectus, and upon request. These
Sub-Accounts invest in Eligible Funds that do not provide the Company or its affiliates with the amount of revenue it requires
in order for it to meet its revenue targets.

 

		4.	The following definitions are modified in
the DEFINITIONS section of the Contract:

 

ADJUSTED CONTRACT VALUE:

The Contract Value less any applicable Premium Tax,
less any applicable Subscription Fee. This amount is applied to the applicable Annuity Tables to determine Annuity Payments.

 

CONTRACT WITHDRAWAL VALUE:

The Contract Value less any applicable Premium Tax,
less any applicable Subscription Fee.

 

NET PURCHASE PAYMENT: A Purchase Payment less
any applicable Premium Tax.

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		5.	The following definition
is deleted in its entirety from the TRANSACTION FEE section of the Contract:

 

DEDUCTION FOR TRANSACTION FEE: During the Accumulation
Period, the Company imposes a Transaction Fee for transfers into and transfers out of certain Sub-Accounts. A listing of the Sub-Accounts
for which the Company imposes a Transaction Fee is available at the Company’s Website or upon request. The Transaction Fee
is waived for transfers required for payment of the Subscription Fee or fees charged by any Financial Advisor you hire. Transaction
Fees are charged twice – once for the transfer out, and once for the transfer in – when transferring between two Sub-Accounts
that impose Transaction Fees. The Transaction Fee will be deducted first from the Sub-Accounts affected, then pro-rata first from
the balance of any money market account(s), and then pro-rata from the balance of any other account(s). If approved by us, you
may elect to have these fees charged to your Financial Advisor, rather than deducted from your Contract. In the event we agree
to this, but the applicable Transaction Fees are not paid within thirty (30) days by your Financial Advisor, we reserve the right
to deduct the applicable Transaction Fees from your Contract. In any event, we reserve the right to deduct any applicable Transaction
Fee upon full surrender of the Contract.

 

Certain Transaction Fee funds may only be available
if you are advised by an approved Financial Advisor.

 

		6.	The following section and term is added
to the Contract: 

 

LOW COST FUND PLATFORM FEE

DEDUCTION FOR LOW COST FUND PLATFORM FEE: During
the Accumulation Period, the Company imposes a Low Cost Fund Platform Fee of [35] basis points on Contract Value invested in certain
Sub-Accounts. These Sub-Accounts invest in Eligible Funds that do not provide the Company or its affiliates with the amount of
revenue it requires in order for it to meet its revenue targets.

Certain Eligible Funds on which the Company imposes
a Low Cost Fund Platform Fee may only be available if you are advised by Financial Advisor approved by that Eligible Fund.

		7.	The following definition is modified in
the TRANSFERS section of the Contract:

 

TRANSFERS DURING THE ACCUMULATION
PERIOD: Subject to any limitation imposed by the Company on the number of transfers during the Accumulation Period shown on
the Contract Schedule, an Owner, Registered Representative or Financial Advisor may transfer all or part of the Contract Value
in a Sub-Account without the imposition of any transfer fee if there have been no more than the number of Transfer Permitted shown
on the Contract Schedule for the Contract Year.

 

All transfers are subject to the following:

 

	1.	The minimum amount which can be transferred from a Sub-Account is shown on the Contract Schedule.

 

	2.	The Company reserves the right, pursuant to the Company’s administrative rules and/or state requirements, at any time and with prior notice to you and/or your Registered Representative or Financial Advisor, to terminate, suspend or modify the transfer privilege described above or to block one or more trades pursuant to company administrative rules.

 

If an Owner, Registered Representative or Financial
Advisor, or other authorized person elects to use this transfer privilege, the Company will not be liable for transfers made in
accordance with instructions received from such person. All amounts and Annuity Units will be determined as of the end of the Valuation
Period during which the request for transfer is received at the Administrative Office.

 

The Contract is not designed for professional market
timing organizations. The Company reserves the right to modify (including terminating) the transfer privileges described above.

 

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		8.	The following definition is modified in
the PROCEEDS PAYABLE ON DEATH section of the Contract:

 

DEATH BENEFIT AMOUNT DURING
THE ACCUMULATION PERIOD: The death benefit will be the Contract Value determined as of the end of the Valuation Period during
which the Company receives both due proof of death and an election for the payment method, reduced by the applicable portion of
the Subscription Fee, and applicable Low Cost Fund Platform Fee.

 

Effective Date: [xx/xx/xxxx]

 

IN WITNESS WHEREOF, The Company has caused
this endorsement to be executed at its Administrative Office in Louisville, Kentucky.

SIGNED FOR JEFFERSON NATIONAL
LIFE INSURANCE COMPANY

 

	 	Signed	Signed

 

	 		

	 	President	Secretaryex4-1.htm

Exhibit 4.1 

 

    SECOND AMENDED AND RESTATED DISTRIBUTION REINVESTMENT PLAN

OF

CĪON INVESTMENT CORPORATION

 

CĪON Investment Corporation, a Maryland corporation (the “Corporation”), hereby adopts the following second amended and restated distribution reinvestment plan (the “Plan”), effective February 1, 2014, with respect to distributions declared by its board of directors (the “Board”) on shares of the Corporation’s common stock, $0.001 par value (“Common Stock”). The Plan amends and restates in its entirety the Corporation’s amended and restated distribution reinvestment plan previously in effect:

 

	
1.  

	
Each stockholder of record may enroll in the Plan by providing the Reinvestment Agent (as defined below) with written notice, except that a stockholder may only participate in the Plan, and sales to a stockholder under the Plan may only occur, if the Corporation maintains its registration in the stockholder’s state of residence. To enroll in the Plan, such stockholder shall notify the Corporation’s reinvestment agent, transfer agent and registrar (collectively the “Reinvestment Agent”), in writing so that such notice is received by the Reinvestment Agent no later than the record date fixed by the Board for the distribution involved. If a stockholder elects to enroll in the Plan, all distributions thereafter declared by the Board shall be payable in shares of Common Stock as provided herein, and no action shall be required on such stockholder’s part to receive a distribution in Common Stock. If a stockholder wishes to receive its distributions in cash, no action is required.

 

	
2.  

	
Subject to the Board’s discretion and applicable legal restrictions, the Corporation intends to authorize and declare distributions on a monthly basis and pay such distributions on either a monthly or a quarterly basis or on such other date or dates as may be fixed from time to time by the Board to stockholders of record at the close of business on the record date for the distribution involved. The Corporation intends to pay distributions on a monthly or a quarterly basis beginning no later than the first calendar quarter after the month in which the minimum offering requirement is met in connection with the Offering (defined below).

 

	
3.  

	
The Corporation shall use newly-issued shares of its Common Stock to implement the Plan. Shares issued pursuant to the Plan will be issued on the same date that the Corporation holds the last weekly closing of the month (“Last Weekly Closing”) for the sale of shares of Common Stock in connection with the Corporation’s continuous offering (“Offering”) pursuant to its registration statement on Form N-2 (file no. 333-178646). The number of newly-issued shares of Common Stock to be issued to a stockholder shall be determined by dividing the total dollar amount of the distribution payable to such stockholder by a price equal to 90% of the price that the shares are sold in the Offering on such closing date. There will be no selling commissions, dealer manager fees or other sales charges on shares of Common Stock issued to a stockholder. The Corporation shall pay the Reinvestment Agent’s fees under the Plan.

 

	
4.  

	
The Reinvestment Agent will set up an account for shares of Common Stock acquired pursuant to the Plan for each stockholder who has elected to enroll in the Plan (each a “Participant”). The Reinvestment Agent may hold each Participant’s shares of Common Stock, together with the shares of Common Stock of other Participants, in non-certificated form in the Reinvestment Agent’s name or that of its nominee.

 

	
5.  

	
The Reinvestment Agent will confirm to each Participant each acquisition made pursuant to the Plan as soon as practicable, but not later than ten (10) business days after the date thereof. Distributions on fractional shares of Common Stock will be credited to each Participant’s account. In the event of termination of a Participant’s account under the Plan, the Reinvestment Agent will adjust for any such undivided fractional interest in cash at the market value of the Common Stock at the time of termination, based on the closing price of the shares of Common Stock on the closing date immediately following such termination.

 

	
6.  

	
The shares of Common Stock issued pursuant to the Plan will have the same voting rights as the shares of Common Stock issued pursuant to the Corporation’s public offering. The Reinvestment Agent will forward to each Participant any Corporation-related proxy solicitation materials and each Corporation report or other communication to stockholders, and will vote any shares of Common Stock held by it under the Plan in accordance with the instructions set forth on proxies returned by Participants to the Corporation.

 

	
7.  

	
In the event that the Corporation makes available to its stockholders rights to purchase additional shares of Common Stock or other securities, the shares of Common Stock held by the Reinvestment Agent for each Participant under the Plan will be used in calculating the number of rights to be issued to the Participant. Transaction processing may either be curtailed or suspended until completion of any stock dividend, stock split or corporate action.

 

	
8.  

	
The Reinvestment Agent’s service fee, if any, and expenses for administering the Plan will be paid for by the Corporation.

 

	
9.  

	
Each Participant may terminate his, her or its account under the Plan by so notifying the Reinvestment Agent via the Corporation’s website at www.cioninvestment.com, or by sending the request form to the Reinvestment Agent at DST Systems, Inc, 1055 Broadway, 7th Floor, Kansas City, Missouri 64105. Such termination will be effective immediately if the Participant’s notice is received by the Reinvestment Agent at least two (2) business days prior to any distribution record date; otherwise, such termination will be effective only with respect to any subsequent distribution.

 

	
10.  

	
The Corporation may terminate the Plan at any time upon written notice to each Participant at least thirty (30) days prior to any record date for the payment of any distributions by the Corporation. Upon any termination, the Reinvestment Agent will credit the Participant’s account for the full shares of Common Stock held for the Participant under the Plan and a cash adjustment for any fractional shares of Common Stock to be delivered to the Participant without charge to the Participant. If a Participant elects by his, her or its written notice to the Reinvestment Agent in advance of termination to have the Reinvestment Agent sell part or all of his, her or its shares of Common Stock and remit the proceeds to the Participant, the Reinvestment Agent is authorized to deduct a $15 transaction fee plus a $0.10 per share brokerage commission from the proceeds.

 

	
11.  

	
In addition, the Corporation may amend or supplement the Plan at any time but, except when necessary or appropriate to comply with applicable law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by sending to each Participant appropriate notice at least ten (10) days prior to the effective date thereof. Such notice may be sent electronically to each Participant. The amendment or supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Reinvestment Agent receives written notice of the termination of his, her or its account under the Plan. Any such amendment may include changes to the timing and payment of the monthly distribution, an appointment by the Reinvestment Agent in its place and stead of a successor agent under these terms and conditions, with full power and authority to perform all or any of the acts to be performed by the Reinvestment Agent under these terms and conditions, or any other amendments that may be deemed appropriate. Upon any such appointment of any agent for the purpose of receiving dividends and distributions, the Corporation will be authorized to pay to such successor agent, for each Participant’s account, all dividends and distributions payable on shares of Common Stock of the Corporation held in the Participant’s name or under the Plan for retention or application by such successor agent as provided in these terms and conditions.

 

	
12.  

	
The Reinvestment Agent will at all times act in good faith and use its best efforts within reasonable limits to ensure its full and timely performance of all services to be performed by it under this Plan and to comply with applicable law, but assumes no responsibility and shall not be liable for loss or damage due to errors, unless such error is caused by the Reinvestment Agent’s negligence, bad faith, or willful misconduct or that of its employees or agents.

 

	
13.  

	
These terms and conditions shall be governed by the laws of the State of Maryland.

  

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