Document:

Exhibit

Exhibit 10.2
VERSUM MATERIALS, INC.

RESTRICTED STOCK UNIT AWARD AGREEMENT
for
NON-EMPLOYEE DIRECTORS

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT FOR NON-EMPLOYEE DIRECTORS (the “Agreement”) is entered into as of the Grant Date (as defined in Annex A) by and between Versum Materials, Inc. (the “Company”) and Grantee (as defined in Annex A), a non-employee member of the Company’s Board of Directors (the “Board”).

WHEREAS, the Company has adopted and the stockholders have approved the Versum Materials Inc. Amended and Restated Long-Term Incentive Plan (the “Plan”), the terms of which are hereby incorporated by reference; and

WHEREAS, the Board has determined that it would be to the advantage and in the best interests of the Company and its stockholders to grant to the Grantee, as compensation for service on the Board, time-based restricted stock units as provided for hereunder (the “RSUs”), payable in Shares of common stock of the Company, par value $1.00 per share (the “Common Stock”), pursuant to the Plan.

NOW, THEREFORE, in consideration of the mutual covenants herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto do hereby agree as follows:

1.    Notice of Grant.  Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Grantee the number of RSUs indicated on a Notice of Grant in the form attached hereto as Annex A, which Notice of Grant is incorporated herein by reference.  For purposes of this Agreement, capitalized terms not otherwise defined in this Agreement or in the Notice of Grant have the meanings set forth in the Plan.  This Agreement is subject to the terms of the Plan, as the Plan may be amended from time to time.  The RSUs granted herein constitute an Award within the meaning of the Plan.  Each RSU represents the right to receive one Share of Common Stock.

2.    Vesting and Settlement.

(a)    RSUs.  The vesting of the RSUs shall be subject to the conditions set forth in this Section 2(a):
(i)    Vesting.
(A)    Unless otherwise provided in this Agreement, provided that the Grantee remains on the Board Company through the applicable Vesting Date (as defined below), the Grantee shall vest in the RSUs on the earlier of (i) one year following the Grant Date and (ii) the date immediately prior to the Company’s next regular annual meeting of Stockholders (such date, the “Vesting Date”).
(B)    Unless otherwise determined by the Committee, if, prior to a Vesting Date (and absent the occurrence of a Change in Control), the Grantee’s service on the Board ends for any reason other than due to the Grantee’s death or Disability, then a number of RSUs (rounded down to the nearest whole number) 

shall immediately vest on a pro rata basis equal to the total number of RSUs granted on the Grant Date multiplied by a fraction the numerator of which is equal to the number of full months that have elapsed from the Grant Date and the denominator of which is 12, and any remaining portion of the RSUs shall be forfeited.  The date of termination of Board service shall be deemed to be the Vesting Date for such pro-rata portion for the purposes of Section 2(a)(ii).
(C)    If, prior to a Vesting Date (and absent the occurrence of a Change in Control), the Grantee’s service on the Board ends due to the Grantee’s death or Disability, then any outstanding unvested RSUs shall immediately vest and the date of such termination of Board service shall be deemed to be the Vesting Date for the purposes of Section 2(a)(ii).

(ii)    Settlement.  If no deferral election is in effect under the Versum Materials, Inc. Deferred Compensation Program for Directors (“Director DCP”), promptly after the Vesting Date (and in all cases on or prior to the earlier of (x) the date 60 days following the Vesting Date and (y) March 15 following the year of the Grant Date) the Company shall distribute to the Grantee the number of Shares of Common Stock equal to the number of RSUs that vested in accordance with Section 2(a).  If a deferral election is in effect under the Director DCP, the Company shall distribute to the Grantee the number of Shares of Common Stock equal to the number of vested RSUs subject to such deferral election in accordance with the terms of the Director DCP and the Grantee’s election form.  Any RSUs that do not vest in accordance with Section 2(a) shall be forfeited by the Grantee without consideration and this Agreement shall terminate without payment in respect thereof.

(b)    Change in Control.  Notwithstanding anything set forth in Section 2(a), in the event of a Change in Control, the following rules shall apply with respect to the RSUs granted hereunder in lieu of the provisions of Section 2(a):
(i)    Unless otherwise determined by the Committee, if a Change in Control occurs prior to the Vesting Date and the Grantee remains on the Board of the Company or acquirer thereof following the completion of such Change in Control, then the RSUs shall be converted into a right to receive a cash payment equal to the sum of (x) the product of (1) the number of RSUs outstanding and (2) the CIC Per Share Price (such product, the “CIC Cash Value”)  and (y) an amount equal to the interest on the CIC Cash Value at a rate equal to LIBOR plus 2.0% per annum, computed on the basis of a year of 364 days, calculated daily for each day following the closing date of the Change in Control transaction through the date immediately preceding the date on which such cash payment becomes vested (the sum of clauses (x) and (y), the “CIC Settlement Amount”).  Subject to the provisions of Section 2(b)(ii) below, the CIC Settlement Amount shall vest and settle as described in Section 2(a)(i), so long as the Grantee continues on the Board of the Company or acquirer thereof in the Change in Control through the Vesting Date.
(ii)    Notwithstanding anything in this Agreement to the contrary, if the Grantee’s service on the Board of the Company or acquirer thereof ends for any reason on or following a Change in Control and prior to the Vesting Date (a “Qualifying Termination”), the Grantee shall immediately vest in the remaining unvested CIC Settlement Amount, and the CIC Settlement Amount shall be paid to the Grantee within ten business days following such termination date. In the event that, pursuant to Section 2(b)(i), the Committee determines that, upon a Change in Control, the RSUs shall remain outstanding as the right to receive Shares or be converted into a right to receive shares of the successor corporation or an affiliate, then, upon a Qualifying Termination, the Grantee’s RSUs or replacement units outstanding on such date will be cancelled in exchange for a cash payment equal to the product of (x) the total number of shares of common stock underlying such outstanding RSUs or replacement units and (y) the per share fair market value of such common stock on the date of the Qualifying Termination.

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3.    Dividend Equivalents.  With respect to each cash dividend or distribution (if any) paid with respect to Common Stock to holders of record on and after the Grant Date, an additional number of RSUs shall be accrued on the books and records of the Company, in an amount equal to the quotient of (a) the product of (i) the amount of such dividend or distribution paid with respect to one share of Common Stock, multiplied by (ii) the number of RSUs granted hereunder then held by the Grantee divided by (b) the Fair Market Value on the applicable dividend record date.  At such time(s) thereafter as the Grantee receives a distribution of Shares of Common Stock in respect of his or her vested RSUs granted hereunder pursuant to the applicable provision of Section 2, the Company shall also distribute to the Grantee a number of Shares of Common Stock equal to the additional number of RSUs accrued under this Section 3 that relate to the vested RSUs in respect of which such distribution of Shares is otherwise being made.  In the event of any stock dividend, the provisions of Section 10 of the Plan shall apply to the RSUs.

4.    Limitation on Obligations.  The Company’s obligation with respect to the RSUs granted hereunder is limited solely to the delivery to the Grantee of Shares of Common Stock on the date when such Shares are due to be delivered hereunder, and in no way shall the Company become obligated to pay cash in respect of such obligation, except as otherwise expressly provided for herein.  The RSUs shall not be secured by any specific assets of the Company or any of its subsidiaries, nor shall any assets of the Company or any of its subsidiaries be designated as attributable or allocated to the satisfaction of the Company’s obligations under this Agreement.

5.    Rights as a Stockholder.  The Grantee shall not have any rights of a common stockholder of the Company unless and until the Grantee receives the Shares of Common Stock pursuant to Section 2.  As soon as practicable following the date that the Grantee becomes entitled to receive the Shares of Common Stock pursuant to Section 2, certificates for such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) shall be issued to the Grantee or to the Grantee’s legal guardian or representative.

6.    Transferability.  The RSUs may not at any time be transferred, sold, assigned, pledged, hypothecated or otherwise disposed of, and shall not be subject to alienation, garnishment, execution or levy of any kind, and any attempt to cause any such awards to be so subjected shall not be recognized.  The Shares of Common Stock acquired by the Grantee pursuant to Section 2 of this Agreement may not at any time be transferred, sold, assigned, pledged, hypothecated or otherwise disposed of unless such transfer, sale, assignment, pledge, hypothecation or other disposition complies with applicable securities laws.

7.    No Right to Continued Service as a Director.  Nothing contained in this Agreement shall be deemed to confer upon the Grantee any right to continue to serve as a member of the Board.

8.    Change in Capitalization.  Except as provided in Section 2(b), in the event of any change in the outstanding Common Stock by reason of a stock split, spin-off, stock dividend, stock combination or reclassification, recapitalization or merger, Change in Control, or similar event, the provisions of Section 10 of the Plan shall govern the treatment of the RSUs.

9.    Securities Laws.  Upon the delivery of any Common Stock to the Grantee, the Company may require the Grantee to make or enter into such written representations, warranties and agreements as the Committee may 

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reasonably request in order to comply with applicable securities laws or with this Agreement.  The delivery of the Common Stock hereunder shall be subject to all applicable laws, rules and regulations and to such approvals of any governmental agencies as may be required.

10.    Clawback; Forfeiture on Violation of Code of Ethics.

(a)    The Committee in its sole discretion may impose on the RSUs provided for in this Agreement, either through an amendment to the Plan or through a policy that upon adoption by the Committee will be incorporated into this Agreement by reference effective as of the date of such adoption, that the Grantee’s rights, payments, and benefits with respect to this Agreement shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions provided in this Agreement, as required by applicable law.

(b)    In the event that the Grantee fails to satisfy the Code of Ethics Requirement, all RSUs granted hereunder (to the extent not already previously forfeited) may be immediately forfeited by the Grantee without consideration based upon a determination by the Committee, and this Agreement shall terminate without payment in respect thereof.

11.    Section 409A of the Code.  It is the Company’s intent that payments and benefits under this Agreement comply with Section 409A, to the extent subject thereto, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith. In the event that it is reasonably determined by the Company that, as a result of the deferred compensation tax rules under Section 409A of the Code (and any related regulations or other pronouncements thereunder) (the “Deferred Compensation Tax Rules”), benefits that the Grantee is entitled to receive under the terms of this Agreement may not be made at the time contemplated by the terms hereof without causing Grantee to be subject to tax under the Deferred Compensation Tax Rules, (i) the Grantee shall not be considered to have terminated Board service for purposes hereof until the Grantee would be considered to have incurred a “separation from service” within the meaning of Section 409A and (ii) the Company shall, in lieu of providing such benefit when otherwise due under this Agreement, instead provide such benefit on the first day on which such provision would not result in the Grantee incurring any tax liability under the Deferred Compensation Tax Rules; which day, if the Grantee is a “specified Grantee” (within the meaning of the Deferred Compensation Tax Rules), shall, in the event the benefit to be provided is due to the Grantee’s “separation from service” (within the meaning of the Deferred Compensation Tax Rules) with the Company and its subsidiaries, be the first day following the six-month period beginning on the date of such separation from Board service. Each amount to be paid or benefit to be provided under this Agreement shall be construed as a separately identified payment for purposes of the Deferred Compensation Tax Rules, and any payments described in this Agreement that are due within the “short term deferral period” as defined in the Deferred Compensation Tax Rules shall not be treated as deferred compensation unless applicable law requires otherwise.

12.    Notices.  Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of its Secretary, and any notice to be given to the Grantee shall be addressed to him at the address given beneath his signature hereto.  By a notice given pursuant to this Section 13, either party may hereafter designate a different address for notices to be given to him.  Any notice which is required to be given to the Grantee shall, if the Grantee is then deceased, be given to the Grantee’s personal representative if such representative has 

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previously informed the Company of his status and address by written notice under this Section 13.  Any notice shall be deemed properly given or made if personally delivered or, if mailed, when mailed by registered or certified mail, postage prepaid.

13.    Governing Law.  The laws of the State of Delaware (or if the Company reincorporates in another state, the laws of that state) shall govern the interpretation, validity and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.

14.    RSUs Subject to Plan.  The RSUs shall be subject to all applicable terms and provisions of the Plan.  In the event of any conflict between this Agreement and the Plan, the terms of the Plan control.

15.    Signature in Counterparts.  This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

16.    Taxes and Additional Matters.  The Grantee, as a Non-Employee Director, is solely responsible for the satisfaction of all taxes and penalties that may arise in connection with the RSUs, and as such the Company has no withholding obligation associated with the RSUs.  This Restricted Stock Unit Agreement for Non-Employee Directors is intended to comply with the applicable laws of any country or jurisdiction where RSUs are granted under the Plan, and all provisions hereof shall be construed in a manner to so comply.

17.    Definitions.

(a)    “CIC Per Share Price” means the price paid for one Share of Common Stock in the Change in Control transaction (with the value of any security that is paid as consideration in the Change in Control determined by the Committee as of the date of such Change in Control).

(b)    “Code of Ethics Requirement” means the Grantee complies with the Company’s Code of Conduct as in effect from time to time.

(c)    “Confidential Information” means all non-public information concerning trade secret, know-how, software, developments, inventions, processes, technology, designs, the financial data, strategic business plans or any proprietary or confidential information, documents or materials in any form or media, including any of the foregoing relating to research, operations, finances, current and proposed products and services, vendors, customers, advertising and marketing, and other non-public proprietary and confidential information of the Company, its affiliates, subsidiaries, successors or assigns.

(d)    “Disability” means the inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.  A Grantee shall be deemed to have suffered a Disability if determined to be totally disabled by the Social Security Administration.

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(e)    “LIBOR” means the three-month London interbank offered rate as published in the Wall Street Journal on the business day following the closing date of the Change in Control transaction and each anniversary thereafter.

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Appendix A

Notice of Grant
Restricted Stock Unit Agreement
for
Non-Employee Directors

The following member of the Board of Directors of Versum Materials, Inc. has been granted Restricted Stock Units in accordance with this Notice of Grant and the Restricted Stock Unit Agreement for Non-Employee Directors to which this Notice of Grant is attached.

The terms below have the meanings ascribed to them below when used in the Restricted Stock Unit Agreement for Non-Employee Directors.

Grantee:  _________________________

Grant Date:  _______________________

Aggregate Number of RSUs Granted:  _______________________

IN WITNESS WHEREOF, the parties hereby agree to the terms of this Notice of Grant and the Restricted Stock Unit Agreement for Non-Employee Directors to which this Notice of Grant is attached, and execute this Notice of Grant and Restricted Stock Unit Agreement for Non-Employee Directors as of the Grant Date.

__________________________________            VERSUM MATERIALS, INC.
Grantee                        

By:       _____________________________

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Name:
Title:

8Exhibit 4-g4

  

   

  

  
    VARIABLE ANNUITY LIVING BENEFITS RIDER

    Rider Date: January 14, 2019

    Measuring Life Option: Single

    Guaranteed Maximum Annual Rider Charge Rate:    2.25%

    Initial Annual Rider Charge Rate:  1.35%

    Enhancement Rate: 6%

    Enhancement Period: 10 Years

    

    

    This optional Rider is made a part of the entire Contract to which it is attached.  Except as stated in this Rider,
        it is subject to all Provisions contained in the Contract.  Coverage under this Rider begins on the Rider Date shown above.

    Summary of Rider Provision

    Guaranteed Minimum Withdrawal
          Benefit (GMWB):  This Rider provides that the Owner may withdraw, each Benefit Year, an amount up to the Guaranteed Annual Income (“GAI”), for the lifetime(s) of the Measuring Life(s), if certain conditions are met as described in this
        Rider.  The GAI may change over time.

     

    

    Additional Purchase Payment Restriction

    Subject to the Maximum Income Base limit and any further limitations stated in the Contract to which this Rider is
        attached, cumulative additional Purchase Payments after the first Benefit Year may not exceed $100,000 without prior Home Office approval. If the Contract Value is $0, then no additional Purchase Payments will be accepted.

    Allocation Restriction

    While this Rider is in effect, the Fixed Account and/or Variable Subaccounts available for allocation may be limited
        if the Allocation Amendment is attached to the Contract.

    

    

    DEFINITIONS

    Annuitant is the natural
        person used to determine the benefits if the Measuring Life Option is Single.  The Annuitant is one of two natural persons used to determine the benefits if the Measuring Life Option is Joint.  The Contract may only have one Annuitant.  The
        Annuitant may not be changed.

    Benefit Year means each
        12-month period starting with the Rider Date shown on Page 1 of this Rider and each Rider Date Anniversary thereafter.

    Company refers to The
        Lincoln National Life Insurance Company.

    Enhancement Base is the
        value used to calculate the amount that may be added to the Income Base upon an Enhancement. If the Rider Date is the Contract Date, then the initial Enhancement Base will be equal to the initial Purchase Payment. If the Rider Date is after the
        Contract Date, then the initial Enhancement Base will be equal to the Contract Value on the Rider Date. The Enhancement Base will increase by the amount of any additional Purchase Payment and upon an Automatic Annual Step-Up. Upon each Excess
        Withdrawal, the Enhancement Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value.  Upon an Enhancement, the Enhancement Base will not change.

    GOP Death Benefit is a Death
        Benefit that is the greater of (a) the Contract Value and (b) the sum of all Purchase Payments minus Bonus Credits, if any, minus all Death Benefit Reductions.

    Measuring Life is a natural
        person used to determine the benefits under this Rider. Measuring Life includes any Annuitant, Owner, Joint Owner, and Secondary Life.

    Measuring Life Option
        indicates how many natural persons are used to determine the benefits under this Rider. Under the Single Measuring Life Option, the Annuitant is used to determine the benefits under this Rider. Under the Joint Measuring Life Option, the Annuitant
        and the Secondary Life are used to determine the benefits under this Rider. The Measuring Life Option may not be changed after the Rider Date.

    Purchase Payments, for the
        purpose of this Rider, mean the amounts paid into the Contract by the Owner including Bonus Credits, if any, before deduction of any Sales Charges.

    Rider Date Anniversary is
        the same calendar day as the Rider Date, each calendar year, if such date is a Valuation Date. If in any calendar year, such calendar day is not a Valuation Date, the Rider Date Anniversary will be the first Valuation Date following such calendar
        day. A quarterly anniversary of the Rider Date is the same calendar day as the Rider Date of every third month following the previous Rider Date, if such date is a Valuation Date.  If such day is not a Valuation Date, the charge will be deducted on
        the first Valuation Date following such calendar day.

    Secondary Life means the
        second natural person, if any, used to determine the benefits under this Rider if the Measuring Life Option is Joint.  The Secondary Life may not be changed.  The Secondary Life may also be considered a joint annuitant, solely for the purposes of
        being a Measuring Life under this Rider and not for any other purposes in any other Rider or the Contract.

    Systematic Required Minimum
          Distribution (RMD) means systematic installments withdrawn via the Company’s automatic withdrawal service of the amount needed to satisfy the required minimum distribution as determined by the Company in accordance with the IRC Section
        401(a)(9), as amended from time to time, for the Contract to which this Rider is attached.

    Withdrawal is the gross
        amount of a Withdrawal before any applicable charges and/or Interest Adjustment/Market Value Adjustment.  Withdrawals are Conforming Withdrawals or Excess Withdrawals. Any Withdrawal that otherwise is a Conforming Withdrawal, but that is not made
        payable to the Owner or the Owner’s bank account, or to the original Annuitant or the original Annuitant’s bank account, if the Owner is a non-natural person, will be treated as an Excess Withdrawal.

    Conforming
          Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year is equal to or less than the GAI.  If the Owner receives only Systematic RMDs
        during a Benefit Year, all Systematic RMDs during that Benefit Year will be treated as Conforming Withdrawals.  However, if a Withdrawal other than Systematic RMDs occurs during a Benefit Year, then this Withdrawal and any subsequent Withdrawals,
        including Systematic RMDs, will be treated as Excess Withdrawals to the extent that the cumulative amount withdrawn in that Benefit Year exceeds the GAI.

    Excess
          Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year exceeds the Conforming Withdrawal.  If any Measuring Life is less than an attained
        age 70, all Withdrawals are Excess Withdrawals.

    

    

    RIDER BENEFIT

      Income Base

    The Income Base is the value used to calculate the GAI and the Rider Charges.

    Initial Income Base

    If the Rider Date is the Contract Date, then the Initial Income Base will be equal to the initial Purchase Payment. 
        If the Rider Date is after the Contract Date, then the Initial Income Base will be equal to the Contract Value on the Rider Date.

    Maximum Income Base

    The Income Base is subject to a $10,000,000 maximum of the combined Income Base (including any Guaranteed Amount)
        values for all Company annuity contracts and annuity riders, including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life. If this maximum is exceeded, the Income Base
        (including any Guaranteed Amount) for each applicable annuity contract and annuity rider will be reduced proportionately so the combined Income Base (including any Guaranteed Amount) values do not exceed the maximum stated above. 

    
      
        

    

    

    

    Adjustment (to the Income
        Base) for Additional Purchase Payments

    If an additional Purchase Payment is accepted, the Income Base will be increased to equal the additional Purchase
        Payment plus the Income Base immediately prior to receipt of the additional Purchase Payment.

    Adjustment (to the Income
        Base) for Withdrawals

    Upon each Excess Withdrawal, the Income Base will be reduced in the same proportion that the Excess Withdrawal
        reduced the Contract Value.  Upon each Conforming Withdrawal, the Income Base will not be reduced.

    Adjustment (to the Income
        Base) on Rider Date Anniversary

    On each Rider Date Anniversary, the Income Base may be increased by an Enhancement or an Automatic Annual Step-Up.

    If the Rider Charge rate is increased in connection with an increase to the Income Base, the Owner may decline the
        increase to the Income Base and Enhancement Base by Notice to the Company within 30 days of the effective date of the increase.  If the Owner does decline the increase, the Income Base and Enhancement Base will be the Income Base and Enhancement
        Base on the Valuation Date immediately prior to the increase, subject to adjustments for Withdrawals and additional Purchase Payments.  If the Owner does not
        decline the increase to the Income Base, the increase to the Income Base and Enhancement Base will be deemed accepted by the Owner.

    Automatic Annual Step-Up (of

        the Income Base)

    Upon an Automatic Annual Step-Up, the Income Base and Enhancement Base will each be increased to an amount equal to the Contract Value.

    On each Rider Date Anniversary, an Automatic Annual Step-Up will occur only if all the following conditions are
        satisfied:

    
      	
              (a)

            	
              all Measuring Lives as of that Valuation Date are under attained age 86; and

            

    

    
      	
              (b)

            	
              the Contract Value as of that Valuation Date is greater than the Income Base; and

            

    

    
      	
              (c)

            	
              the Automatic Annual Step-Up would increase the Income Base at least as much as an Enhancement, if any,
                  that may occur on such Rider Date Anniversary.

            

    

    Upon an Automatic Annual Step-Up, the Rider Charge rate will be changed to the Rider Charge rate currently in effect,
        subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    Future Automatic Annual Step-Ups may occur after declining an Automatic Annual Step-Up.

    Enhancement (to the Income
        Base)

    On each Rider Date Anniversary, the Income Base will automatically be increased by an amount equal to the Enhancement
        Base less any Purchase Payments accepted in the preceding Benefit Year (except any Purchase Payment accepted within the first 90 days after the Rider Date) the result is then multiplied by the Enhancement Rate shown on Page 1 of this Rider. The
        Enhancement will occur if all of the following conditions are satisfied:

    
      	
              (a)

            	
              the preceding Benefit Year is during the Enhancement Period, which begins on the Rider Date and restarts
                  upon an Automatic Annual Step-Up; and

            

    

    
      	
              (b)

            	
              no Withdrawal occurred in the preceding Benefit Year; and

            

    

    
      	
              (c)

            	
              all Measuring Lives are under attained age 86; and

            

    

    
      	
              (d)

            	
              the Enhancement would increase the Income Base more than an Automatic Annual Step-Up, if any, that may
                  occur on such Rider Date Anniversary.

            

    

    After the initial Enhancement Period (which begins on the Rider Date and ends after the Enhancement Period shown on
        page 1 of this Rider), upon an Enhancement the Rider Charge rate may increase to the rate currently in effect, subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    Future Enhancements may occur after declining an Enhancement.

    
      
        

    

    

    

    Guaranteed Annual Income (GAI) Amount

    The GAI is an amount that may be withdrawn from the Contract by the Owner each Benefit Year as a Conforming
        Withdrawal. As long as the GAI is not reduced to $0, then the GAI may be withdrawn during the lifetime(s) of all Measuring Lives. The GAI is available once all Measuring Lives are an attained age 70. If the Measuring Life Option is Joint, the GAI
        available is based upon the attained age of the younger or surviving Measuring Life.

    The GAI will change upon an Automatic Annual Step-Up, an Enhancement, an additional Purchase Payment, upon an Excess
        Withdrawal or when the GAI is determined by GAI Rate Table B, as described below.

    

    

    GAI Rate Tables

    	
            GAI Rate Table A

          
	
            Single Measuring Life Option

          	
            Joint Measuring Life Option

          
	
            Age of Measuring Life

          	
            GAI Rate1

          	
            Age of Younger or Surviving Measuring Life

          	
            GAI Rate1

          
	
            0 – 69

          	
            0.00%

          	
            N/A

          	
            N/A

          
	
            70 +

          	
            6.25%

          	
            N/A

          	
            N/A

          

    

    

    	
            GAI Rate Table B

          
	
            Single Measuring Life Option

          	
            Joint Measuring Life Option

          
	
            Age of Measuring Life

          	
            GAI Rate1

          	
            Age of Younger or Surviving Measuring Life

          	
            GAI Rate1

          
	
            0 – 69

          	
            0.00%

          	
            N/A

          	
            N/A

          
	
            70 +

          	
            5.00%

          	
            N/A

          	
            N/A

          

    1The GAI Rate will be based upon the attained age of the Measuring Life(s).

    

    

    Determining the GAI

    The GAI is determined by multiplying the Income Base by a GAI Rate from the applicable GAI Rate Table above, which
        varies by age and the Measuring Life Option as shown in the GAI Rate Tables. While the Contract Value is greater than $0, GAI Rate Table A is used to determine the GAI. GAI Rate Table B will be used to determine the GAI once the Contract Value is
        reduced to $0 or when the GAI Annuity Payment Option is elected.

    Upon the first Conforming Withdrawal, the GAI Rate used to calculate the GAI will be based upon the attained age of
        the Measuring Life as of the date of such Withdrawal. Thereafter, the GAI Rate may not change unless an Automatic Annual Step-Up occurs pursuant to the Adjustment (to the GAI) for an Automatic Annual Step-Up Provision below or as described within
        this Provision. If the Measuring Life Option is Joint, the GAI Rate will be based upon the attained age of the younger or surviving Measuring Life.  When GAI Rate Table B is used to determine the GAI, the GAI Rate will be based upon the later of
        (a) the attained age of the Measuring Life(s) as of the first Conforming Withdrawal; or (b) the attained age of the Measuring Life(s) as of the Valuation Date the GAI was last determined by GAI Rate Table A.

    The GAI paid as determined by GAI Rate Table A may not exceed the remaining Contract Value in any Benefit Year.
        However, if the GAI paid in a Benefit Year once the Contract Value is reduced to $0 or the GAI Annuity Payment Option is elected, is less than the GAI
        determined by GAI Rate Table B, the difference between the GAI determined by GAI Rate Table B and the total GAI already paid in that Benefit Year will be payable as a Conforming Withdrawal for the remainder of the Benefit Year.

    
      
        

    

    

    

    Adjustment (to the GAI) for Additional Purchase Payments

    If an additional Purchase Payment is accepted, the GAI will be increased to equal the additional Purchase Payment
        times the GAI Rate used when the GAI was last determined plus the GAI immediately prior to receipt of the additional Purchase Payment.

    Adjustment (to the GAI) for Excess Withdrawals

    Upon each Excess Withdrawal, the GAI applicable to the next Benefit Year will decrease to equal the Income Base after
        the Excess Withdrawal times the GAI Rate used when the GAI was last determined.  If the Income Base after the Excess Withdrawal equals $0, this Rider and Contract will terminate.

    Adjustment (to the GAI) for an Automatic Annual Step-Up

    The GAI will increase upon an Automatic Annual Step-Up to equal the increased Income Base times the GAI Rate based
        upon the attained age of the Measuring Life as of the Valuation Date of the Automatic Annual Step-Up, which may result in a higher GAI Rate than when the GAI was last determined.  If the Measuring Life Option is Joint, the GAI Rate will be based
        upon the younger or surviving Measuring Life.

    If the Rider Charge rate is increased in connection with an Automatic Annual Step-Up, the Owner may decline the
        increase to the Income Base by Notice to the Company within 30 days of the effective date of the increase.  If the Owner does decline the increase, the GAI will be the GAI on the Valuation Date immediately prior to the increase, subject to
        adjustments for Withdrawals, additional Purchase Payments and at the time the GAI Rate is determined by GAI Rate Table B as described in the Determining the GAI Provision above.

    Adjustment (to the GAI) for an Enhancement

    The GAI will increase upon an Enhancement to equal the increased Income Base times the GAI Rate used when the GAI was
        last determined.

    If the Rider Charge rate is increased in connection with an Enhancement, the Owner may decline the increase to the
        Income Base by Notice to the Company within 30 days of the effective date of the increase. If the Owner does decline the increase, the GAI will be the GAI on the Valuation Date immediately prior to the increase, subject to adjustments for
        Withdrawals, additional Purchase Payments and at the time the GAI Rate is determined by GAI Rate Table B as described in the Determining the GAI Provision above.

    Maximum GAI

    The combined GAI (including any Maximum Annual Withdrawal amount, or “MAW”) for all Company annuity contracts,
        including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life, is subject to a maximum of the GAI Rate times the Maximum Income Base.

    Contract Value Reduces to $0

    Even if the Contract Value declines to $0, as long as (a) the GAI is not $0; and (b) the Contract has not been
        surrendered or assigned for value, the GAI as calculated pursuant to the Determining the GAI Provision, will continue for the lifetime(s) of the Measuring Life(s).

    The Owner may elect to receive the GAI at any frequency the Company offers, subject to minimum payment amount rules then in effect, but no less frequently than annually.

    If the Contract Value is $0 and the Contract terminates due to the death of all Measuring Lives, no Death Benefit
        will be paid.  However, unless the currently effective Death Benefit option is the Account Value Death Benefit Option, a final payment, if available, will be made under this Rider.  Such payment shall be equal to (A) minus (B) minus (C), where:

    
      	
              (A)

            	
              is equal to the sum of all Purchase Payments minus Bonus Credits, if applicable, if the Rider Date is the
                  Contract Date.  If the Rider Date is after the Contract Date then (A) is equal to the Contract Value on the Rider Date, plus subsequent Purchase Payments minus subsequent Bonus Credits, if applicable.

            

    

    
      	
              (B)

            	
              is the sum of all Final Payment
                  Reductions through the Valuation Date upon which the Contract Value reduces to $0.  Final Payment Reductions are made whenever a Withdrawal occurs.  Upon Excess Withdrawals, Final Payment Reductions are calculated proportionately; the
                  percentage reduction of the Contract Value due to the Withdrawal will be applied to (A) as the Final Payment Reduction.  Upon Conforming Withdrawals, the reduction of the Contract Value due to the Withdrawal will be applied to (A) as the
                  Final Payment Reduction.

            

    

    
      	
              (C)

            	
              is the sum of all Conforming Withdrawals after the Valuation Date upon which the
                  Contract Value reduces to $0.

            

    

    GAI Annuity Payment Option

    The GAI Annuity Payment Option may be irrevocably elected by the Owner upon Notice to the Company, provided the
        Contract has not been surrendered or assigned for value.  If elected, the Owner will receive payment equal to the GAI as calculated pursuant to the Determining the GAI Provision above, each Benefit Year for the lifetime(s) of all Measuring Lives. 
        The Owner may elect to receive the GAI at any frequency the Company offers, subject to minimum payment amount rules then in effect, but no less frequently than annually.

    If this GAI Annuity Payment Option is in effect, no Death Benefit will be paid.  However, if the Death Benefit option
        immediately prior to the Annuity Commencement Date was not the Account Value Death Benefit Option, a final payment, if available, will be made under this Rider.  Such payment shall be equal to (A) minus (B) minus (C), where:

    
      
        	

              	(A)	
                is equal to the sum of all Purchase Payments minus Bonus Credits, if applicable, if the Rider Date is the Contract Date.  If the Rider Date is after the Contract Date then
                    (A) is equal to the Contract Value on the Rider Date, plus subsequent Purchase Payments minus subsequent Bonus Credits, if applicable.

              

      

    

    
      
        	

              	(B)	
                is the sum of all Final Payment Reductions prior to the GAI Annuity Payment Option Effective
                    Date.  Final Payment Reductions are made whenever a Withdrawal occurs.  Upon Excess Withdrawals, Final Payment Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be
                    applied to (A) as the Final Payment Reduction.  Upon Conforming Withdrawals, the reduction of the Contract Value due to the Withdrawal will be applied to (A) as the Final Payment Reduction.

              

      

    

    
      
        	

              	(C)	
                is the sum of all Conforming Withdrawals on and after the GAI Annuity Payment Option Effective Date.

              

      

    

    Effect of Death

    Upon the death of the Annuitant if the Measuring Life Option is Single, this Rider will terminate.  Upon the first
        death of a Measuring Life if the Measuring Life Option is Joint, the Owner may continue the Contract and this Rider under the Joint Measuring Life Option.  If so continued, the GAI will continue for the life of the surviving Measuring Life.  Upon
        the death of the surviving Measuring Life, this Rider will terminate.

    Waivers

    Waiver of Contingent Deferred Sales Charge or CDSC / Surrender Charge or Premium Based Charge (if
        applicable)

    No Contingent Deferred Sales Charge, CDSC/Surrender Charge, or Premium Based Charge will apply to Conforming
        Withdrawals.  Excess Withdrawals will be subject to any applicable Contingent Deferred Sales Charge, CDSC/Surrender Charge, or Premium Based Charge to the extent that the total amount of Withdrawals in the Contract Year exceeds the Free Withdrawal
        Amount for that year.

    

    

    

    

    RIDER CHARGE

    The Initial Annual Rider Charge Rate shown on Page 1 of this Rider is divided by four to calculate the initial
        quarterly Rider Charge rate.  The Rider Charge rate may change as described herein, but the annual Rider Charge rate may never exceed the Guaranteed Maximum Annual Rider Charge rate shown on Page 1 of this Rider.

    A quarterly Rider Charge is deducted from the Contract Value on each quarterly anniversary of the Rider Date.

    The amount of the quarterly Rider Charge is the quarterly Rider Charge rate multiplied by the Income Base prior to
        any Automatic Annual Step-Up or Enhancement on the Valuation Date the charge is deducted.

    Quarterly Rider Charges will be deducted from each Variable Subaccount and Fixed Account on a proportional basis.  A
        pro-rata quarterly Rider Charge will be recalculated and deducted upon termination of this Rider, except if this Contract is terminated due to death.

    Any change to the Rider Charge rate will occur only on a Rider Date Anniversary.  The Rider Charge rate change is to
        the Rider Charge rate currently in effect on the Rider Date Anniversary of the change, subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    The Rider Charge rate will change due to an Automatic Annual Step-Up pursuant to the Automatic Annual Step-Up (of the
        Income Base) Provision, above. Any Automatic Annual Step-Up may be declined if the Rider Charge rate increased.

    The Rider Charge rate may increase due to an Enhancement after the initial Enhancement Period pursuant to the
        Enhancement (to the Income Base) Provision, above.  Any Enhancement after the initial Enhancement Period may be declined if the Rider Charge rate increased.

    The Rider Charge rate may increase due to an additional Purchase Payment in the Benefit Year preceding the applicable
        Rider Date anniversary, if the cumulative Purchase Payments received after the first Benefit Year equal or exceed the limit shown in the Additional Purchase Payment Restriction Provision, above.

    The Rider Charge rate will not increase due to an Enhancement during the initial Enhancement Period.

    

    

    GENERAL

    GOP Death Benefit Amount

    A GOP Death Benefit is provided under the Guarantee of Principal (GOP), Enhanced Guaranteed Minimum Death Benefit
        (EGMDB) and Estate Enhancement Benefit (EEB) Death Benefit, one of which may be applicable to the Contract as shown in the Contract Specifications.

    This GOP Death Benefit Amount section does not apply if this Contract provides that all death benefits are reduced by
        the amount of all Withdrawals.  If the Contract includes a Death Benefit, including any Death Benefit Rider that has a Death Benefit Amount defined as the sum of all Purchase Payments minus all death benefit reductions, and that such death benefit
        reductions of Purchase Payments “will be in proportion to the amount withdrawn” such Death Benefit Amount definition is hereby replaced with the following:

    The sum of all Purchase Payments, minus all Death Benefit Reductions and any
        Bonus Credits.  Death Benefit Reductions are made whenever a Withdrawal occurs.

    For Withdrawals (a) prior to the Rider Date of the Variable Annuity Living
        Benefits Rider and (b) after the termination of the Variable Annuity Living Benefits Rider, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be applied to the
        Purchase Payments as the Death Benefit Reduction.

    For Withdrawals while the Variable Annuity Living Benefits Rider is in force:

    
      
        	

              	(a)	
                upon Excess Withdrawals, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value  due to the Excess Withdrawal will be
                    applied to the Purchase Payments as the Death Benefit Reduction, and

              

      

    

    
      
        	

              	(b)	
                upon Conforming Withdrawals, the reduction of the Contract Value due to the Conforming Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

              

      

    

    Mortality and Expense Risk and Administrative Charge

    While this Rider is in effect, the Mortality and Expense Risk and Administrative Charge rates for this Contract are
        shown under MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE PRIOR TO THE ANNUITY COMMENCEMENT DATE in the Contract Specifications.

    
      
        

    

    

    

    Termination of this Rider

    The Owner may terminate this Rider upon Notice to the Company any time after the 5th Rider Date
        Anniversary.  This Rider will terminate upon the earliest of:

    
      	
              (a)

            	
              the date the Contract to which this Rider is attached terminates;

            

    

    
      	
              (b)

            	
              the date the Owner is changed due to death or pursuant to an enforceable divorce agreement or decree,
                  except when Ownership is transferred to the surviving Secondary Life upon death of the Annuitant/Owner;

            

    

    
      	
              (c)

            	
              the Annuity Commencement Date except under the GAI Annuity Payment Option;

            

    

    
      	
              (d)

            	
              the death of the Annuitant if the Measuring Life Option is Single, or on the death of the last surviving
                  Measuring Life if the Measuring Life Option is Joint;

            

    

    
      	
              (e)

            	
              the date the Owner sells or assigns for value the Contract other than to the Annuitant, or discounts or
                  pledges it as collateral for a loan or as a security for the performance of an obligation or any other purpose; or

            

    

    
      	
              (f)

            	
              the date both the Income Base and GAI equal $0 as the result of an Excess Withdrawal.

            

    

    Upon termination of this Rider, the benefits and charges within this Rider will terminate.  A pro-rata Rider Charge
        will be deducted upon termination, except if this Rider is terminated due to death.

    

      The Lincoln National Life Insurance Company

      

      

      

    

    

    

    

      

      

       

      

      
        
          

      

      Exhibit 4-g4 (option2)

      

    

    VARIABLE ANNUITY LIVING BENEFITS RIDER

    Rider Date: January 14, 2019

    Measuring Life Option: Single

    Guaranteed Maximum Annual Rider Charge Rate:    2.25%

    Initial Annual Rider Charge Rate:  1.35%

    Enhancement Rate: 6%

    Enhancement Period: 10 Years

    

    

    This optional Rider is made a part of the entire Contract to which it is attached.  Except as stated in this Rider,
        it is subject to all Provisions contained in the Contract.  Coverage under this Rider begins on the Rider Date shown above.

    Summary of Rider Provision

    Guaranteed Minimum Withdrawal
          Benefit (GMWB):  This Rider provides that the Owner may withdraw, each Benefit Year, an amount up to the Guaranteed Annual Income (“GAI”), for the lifetime(s) of the Measuring Life(s), if certain conditions are met as described in this
        Rider.  The GAI may change over time.

     

    

    Additional Purchase Payment Restriction

    Subject to the Maximum Income Base limit and any further limitations stated in the Contract to which this Rider is
        attached, cumulative additional Purchase Payments after the first Benefit Year may not exceed $100,000 without prior Home Office approval. If the Contract Value is $0, then no additional Purchase Payments will be accepted.

    Allocation Restriction

    While this Rider is in effect, the Fixed Account and/or Variable Subaccounts available for allocation may be limited
        if the Allocation Amendment is attached to the Contract.

    

    

    DEFINITIONS

    Annuitant is the natural
        person used to determine the benefits if the Measuring Life Option is Single.  The Annuitant is one of two natural persons used to determine the benefits if the Measuring Life Option is Joint.  The Contract may only have one Annuitant.  The
        Annuitant may not be changed.

    Benefit Year means each
        12-month period starting with the Rider Date shown on Page 1 of this Rider and each Rider Date Anniversary thereafter.

    Company refers to The
        Lincoln National Life Insurance Company.

    Enhancement Base is the
        value used to calculate the amount that may be added to the Income Base upon an Enhancement. If the Rider Date is the Contract Date, then the initial Enhancement Base will be equal to the initial Purchase Payment. If the Rider Date is after the
        Contract Date, then the initial Enhancement Base will be equal to the Contract Value on the Rider Date. The Enhancement Base will increase by the amount of any additional Purchase Payment and upon an Automatic Annual Step-Up. Upon each Excess
        Withdrawal, the Enhancement Base will be reduced in the same proportion that the Excess Withdrawal reduced the Contract Value.  Upon an Enhancement, the Enhancement Base will not change.

    GOP Death Benefit is a Death
        Benefit that is the greater of (a) the Contract Value and (b) the sum of all Purchase Payments minus Bonus Credits, if any, minus all Death Benefit Reductions.

    Measuring Life is a natural
        person used to determine the benefits under this Rider. Measuring Life includes any Annuitant, Owner, Joint Owner, and Secondary Life.

    Measuring Life Option
        indicates how many natural persons are used to determine the benefits under this Rider. Under the Single Measuring Life Option, the Annuitant is used to determine the benefits under this Rider. Under the Joint Measuring Life Option, the Annuitant
        and the Secondary Life are used to determine the benefits under this Rider. The Measuring Life Option may not be changed after the Rider Date.

    Purchase Payments, for the
        purpose of this Rider, mean the amounts paid into the Contract by the Owner including Bonus Credits, if any, before deduction of any Sales Charges.

    Rider Date Anniversary is
        the same calendar day as the Rider Date, each calendar year, if such date is a Valuation Date. If in any calendar year, such calendar day is not a Valuation Date, the Rider Date Anniversary will be the first Valuation Date following such calendar
        day. A quarterly anniversary of the Rider Date is the same calendar day as the Rider Date of every third month following the previous Rider Date, if such date is a Valuation Date.  If such day is not a Valuation Date, the charge will be deducted on
        the first Valuation Date following such calendar day.

    Secondary Life means the
        second natural person, if any, used to determine the benefits under this Rider if the Measuring Life Option is Joint.  The Secondary Life may not be changed.  The Secondary Life may also be considered a joint annuitant, solely for the purposes of
        being a Measuring Life under this Rider and not for any other purposes in any other Rider or the Contract.

    Systematic Required Minimum
          Distribution (RMD) means systematic installments withdrawn via the Company’s automatic withdrawal service of the amount needed to satisfy the required minimum distribution as determined by the Company in accordance with the IRC Section
        401(a)(9), as amended from time to time, for the Contract to which this Rider is attached.

    Withdrawal is the gross
        amount of a Withdrawal before any applicable charges and/or Interest Adjustment/Market Value Adjustment.  Withdrawals are Conforming Withdrawals or Excess Withdrawals. Any Withdrawal that otherwise is a Conforming Withdrawal, but that is not made
        payable to the Owner or the Owner’s bank account, or to the original Annuitant or the original Annuitant’s bank account, if the Owner is a non-natural person, will be treated as an Excess Withdrawal.

    Conforming
          Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year is equal to or less than the GAI.  If the Owner receives only Systematic RMDs
        during a Benefit Year, all Systematic RMDs during that Benefit Year will be treated as Conforming Withdrawals.  However, if a Withdrawal other than Systematic RMDs occurs during a Benefit Year, then this Withdrawal and any subsequent Withdrawals,
        including Systematic RMDs, will be treated as Excess Withdrawals to the extent that the cumulative amount withdrawn in that Benefit Year exceeds the GAI.

    Excess
          Withdrawals are all Withdrawals to the extent that the cumulative amount withdrawn (including the current Withdrawal) from the Contract in that Benefit Year exceeds the Conforming Withdrawal.  If any Measuring Life is less than an attained
        age 70, all Withdrawals are Excess Withdrawals.

    

    

    RIDER BENEFIT

      Income Base

    The Income Base is the value used to calculate the GAI and the Rider Charges.

    Initial Income Base

    If the Rider Date is the Contract Date, then the Initial Income Base will be equal to the initial Purchase Payment. 
        If the Rider Date is after the Contract Date, then the Initial Income Base will be equal to the Contract Value on the Rider Date.

    Maximum Income Base

    The Income Base is subject to a $10,000,000 maximum of the combined Income Base (including any Guaranteed Amount)
        values for all Company annuity contracts and annuity riders, including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life. If this maximum is exceeded, the Income Base
        (including any Guaranteed Amount) for each applicable annuity contract and annuity rider will be reduced proportionately so the combined Income Base (including any Guaranteed Amount) values do not exceed the maximum stated above. 

    
      
        

    

    

    

    Adjustment (to the Income
        Base) for Additional Purchase Payments

    If an additional Purchase Payment is accepted, the Income Base will be increased to equal the additional Purchase
        Payment plus the Income Base immediately prior to receipt of the additional Purchase Payment.

    Adjustment (to the Income
        Base) for Withdrawals

    Upon each Excess Withdrawal, the Income Base will be reduced in the same proportion that the Excess Withdrawal
        reduced the Contract Value.  Upon each Conforming Withdrawal, the Income Base will not be reduced.

    Adjustment (to the Income
        Base) on Rider Date Anniversary

    On each Rider Date Anniversary, the Income Base may be increased by an Enhancement or an Automatic Annual Step-Up.

    If the Rider Charge rate is increased in connection with an increase to the Income Base, the Owner may decline the
        increase to the Income Base and Enhancement Base by Notice to the Company within 30 days of the effective date of the increase.  If the Owner does decline the increase, the Income Base and Enhancement Base will be the Income Base and Enhancement
        Base on the Valuation Date immediately prior to the increase, subject to adjustments for Withdrawals and additional Purchase Payments.  If the Owner does not
        decline the increase to the Income Base, the increase to the Income Base and Enhancement Base will be deemed accepted by the Owner.

    Automatic Annual Step-Up (of

        the Income Base)

    Upon an Automatic Annual Step-Up, the Income Base and Enhancement Base will each be increased to an amount equal to the Contract Value.

    On each Rider Date Anniversary, an Automatic Annual Step-Up will occur only if all the following conditions are
        satisfied:

    
      	
              (a)

            	
              all Measuring Lives as of that Valuation Date are under attained age 86; and

            

    

    
      	
              (b)

            	
              the Contract Value as of that Valuation Date is greater than the Income Base; and

            

    

    
      	
              (c)

            	
              the Automatic Annual Step-Up would increase the Income Base at least as much as an Enhancement, if any,
                  that may occur on such Rider Date Anniversary.

            

    

    Upon an Automatic Annual Step-Up, the Rider Charge rate will be changed to the Rider Charge rate currently in effect,
        subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    Future Automatic Annual Step-Ups may occur after declining an Automatic Annual Step-Up.

    Enhancement (to the Income
        Base)

    On each Rider Date Anniversary, the Income Base will automatically be increased by an amount equal to the Enhancement
        Base less any Purchase Payments accepted in the preceding Benefit Year (except any Purchase Payment accepted within the first 90 days after the Rider Date) the result is then multiplied by the Enhancement Rate shown on Page 1 of this Rider. The
        Enhancement will occur if all of the following conditions are satisfied:

    
      	
              (a)

            	
              the preceding Benefit Year is during the Enhancement Period, which begins on the Rider Date and restarts
                  upon an Automatic Annual Step-Up; and

            

    

    
      	
              (b)

            	
              no Withdrawal occurred in the preceding Benefit Year; and

            

    

    
      	
              (c)

            	
              all Measuring Lives are under attained age 86; and

            

    

    
      	
              (d)

            	
              the Enhancement would increase the Income Base more than an Automatic Annual Step-Up, if any, that may
                  occur on such Rider Date Anniversary.

            

    

    After the initial Enhancement Period (which begins on the Rider Date and ends after the Enhancement Period shown on
        page 1 of this Rider), upon an Enhancement the Rider Charge rate may increase to the rate currently in effect, subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    Future Enhancements may occur after declining an Enhancement.

    
      
        

    

    

    

    Guaranteed Annual Income (GAI) Amount

    The GAI is an amount that may be withdrawn from the Contract by the Owner each Benefit Year as a Conforming
        Withdrawal. As long as the GAI is not reduced to $0, then the GAI may be withdrawn during the lifetime(s) of all Measuring Lives. The GAI is available once all Measuring Lives are an attained age 70. If the Measuring Life Option is Joint, the GAI
        available is based upon the attained age of the younger or surviving Measuring Life.

    The GAI will change upon an Automatic Annual Step-Up, an Enhancement, an additional Purchase Payment, upon an Excess
        Withdrawal or when the GAI is determined by GAI Rate Table B, as described below.

    

    

    GAI Rate Tables

    	
            GAI Rate Table A

          
	
            Single Measuring Life Option

          	
            Joint Measuring Life Option

          
	
            Age of Measuring Life

          	
            GAI Rate1

          	
            Age of Younger or Surviving Measuring Life

          	
            GAI Rate1

          
	
            0 – 69

          	
            0.00%

          	
            N/A

          	
            N/A

          
	
            70 +

          	
            7.00%

          	
            N/A

          	
            N/A

          

    

    

    	
            GAI Rate Table B

          
	
            Single Measuring Life Option

          	
            Joint Measuring Life Option

          
	
            Age of Measuring Life

          	
            GAI Rate1

          	
            Age of Younger or Surviving Measuring Life

          	
            GAI Rate1

          
	
            0 – 69

          	
            0.00%

          	
            N/A

          	
            N/A

          
	
            70 +

          	
            4.00%

          	
            N/A

          	
            N/A

          

    1The GAI Rate will be based upon the attained age of the Measuring Life(s).

    

    

    Determining the GAI

    The GAI is determined by multiplying the Income Base by a GAI Rate from the applicable GAI Rate Table above, which
        varies by age and the Measuring Life Option as shown in the GAI Rate Tables. While the Contract Value is greater than $0, GAI Rate Table A is used to determine the GAI. GAI Rate Table B will be used to determine the GAI once the Contract Value is
        reduced to $0 or when the GAI Annuity Payment Option is elected.

    Upon the first Conforming Withdrawal, the GAI Rate used to calculate the GAI will be based upon the attained age of
        the Measuring Life as of the date of such Withdrawal. Thereafter, the GAI Rate may not change unless an Automatic Annual Step-Up occurs pursuant to the Adjustment (to the GAI) for an Automatic Annual Step-Up Provision below or as described within
        this Provision. If the Measuring Life Option is Joint, the GAI Rate will be based upon the attained age of the younger or surviving Measuring Life.  When GAI Rate Table B is used to determine the GAI, the GAI Rate will be based upon the later of
        (a) the attained age of the Measuring Life(s) as of the first Conforming Withdrawal; or (b) the attained age of the Measuring Life(s) as of the Valuation Date the GAI was last determined by GAI Rate Table A.

    The GAI paid as determined by GAI Rate Table A may not exceed the remaining Contract Value in any Benefit Year.
        However, if the GAI paid in a Benefit Year once the Contract Value is reduced to $0 or the GAI Annuity Payment Option is elected, is less than the GAI
        determined by GAI Rate Table B, the difference between the GAI determined by GAI Rate Table B and the total GAI already paid in that Benefit Year will be payable as a Conforming Withdrawal for the remainder of the Benefit Year.

    Adjustment (to the GAI) for Additional Purchase Payments

    If an additional Purchase Payment is accepted, the GAI will be increased to equal the additional Purchase Payment
        times the GAI Rate used when the GAI was last determined plus the GAI immediately prior to receipt of the additional Purchase Payment.

    Adjustment (to the GAI) for Excess Withdrawals

    Upon each Excess Withdrawal, the GAI applicable to the next Benefit Year will decrease to equal the Income Base after
        the Excess Withdrawal times the GAI Rate used when the GAI was last determined.  If the Income Base after the Excess Withdrawal equals $0, this Rider and Contract will terminate.

    Adjustment (to the GAI) for an Automatic Annual Step-Up

    The GAI will increase upon an Automatic Annual Step-Up to equal the increased Income Base times the GAI Rate based
        upon the attained age of the Measuring Life as of the Valuation Date of the Automatic Annual Step-Up, which may result in a higher GAI Rate than when the GAI was last determined.  If the Measuring Life Option is Joint, the GAI Rate will be based
        upon the younger or surviving Measuring Life.

    If the Rider Charge rate is increased in connection with an Automatic Annual Step-Up, the Owner may decline the
        increase to the Income Base by Notice to the Company within 30 days of the effective date of the increase.  If the Owner does decline the increase, the GAI will be the GAI on the Valuation Date immediately prior to the increase, subject to
        adjustments for Withdrawals, additional Purchase Payments and at the time the GAI Rate is determined by GAI Rate Table B as described in the Determining the GAI Provision above.

    Adjustment (to the GAI) for an Enhancement

    The GAI will increase upon an Enhancement to equal the increased Income Base times the GAI Rate used when the GAI was
        last determined.

    If the Rider Charge rate is increased in connection with an Enhancement, the Owner may decline the increase to the
        Income Base by Notice to the Company within 30 days of the effective date of the increase. If the Owner does decline the increase, the GAI will be the GAI on the Valuation Date immediately prior to the increase, subject to adjustments for
        Withdrawals, additional Purchase Payments and at the time the GAI Rate is determined by GAI Rate Table B as described in the Determining the GAI Provision above.

    Maximum GAI

    The combined GAI (including any Maximum Annual Withdrawal amount, or “MAW”) for all Company annuity contracts,
        including annuity contracts with an affiliated company, for which the Annuitant or Secondary Life, if applicable, is a Measuring Life, is subject to a maximum of the GAI Rate times the Maximum Income Base.

    Contract Value Reduces to $0

    Even if the Contract Value declines to $0, as long as (a) the GAI is not $0; and (b) the Contract has not been
        surrendered or assigned for value, the GAI as calculated pursuant to the Determining the GAI Provision, will continue for the lifetime(s) of the Measuring Life(s).

    The Owner may elect to receive the GAI at any frequency the Company offers, subject to minimum payment amount rules then in effect, but no less frequently than annually.

    If the Contract Value is $0 and the Contract terminates due to the death of all Measuring Lives, no Death Benefit
        will be paid.  However, unless the currently effective Death Benefit option is the Account Value Death Benefit Option, a final payment, if available, will be made under this Rider.  Such payment shall be equal to (A) minus (B) minus (C), where:

    
      	
              (A)

            	
              is equal to the sum of all Purchase Payments minus Bonus Credits, if applicable, if the Rider Date is the
                  Contract Date.  If the Rider Date is after the Contract Date then (A) is equal to the Contract Value on the Rider Date, plus subsequent Purchase Payments minus subsequent Bonus Credits, if applicable.

            

    

    
      	
              (B)

            	
              is the sum of all Final Payment
                  Reductions through the Valuation Date upon which the Contract Value reduces to $0.  Final Payment Reductions are made whenever a Withdrawal occurs.  Upon Excess Withdrawals, Final Payment Reductions are calculated proportionately; the
                  percentage reduction of the Contract Value due to the Withdrawal will be applied to (A) as the Final Payment Reduction.  Upon Conforming Withdrawals, the reduction of the Contract Value due to the Withdrawal will be applied to (A) as the
                  Final Payment Reduction.

            

    

    
      	
              (C)

            	
              is the sum of all Conforming Withdrawals after the Valuation Date upon which the
                  Contract Value reduces to $0.

            

    

    GAI Annuity Payment Option

    The GAI Annuity Payment Option may be irrevocably elected by the Owner upon Notice to the Company, provided the
        Contract has not been surrendered or assigned for value.  If elected, the Owner will receive payment equal to the GAI as calculated pursuant to the Determining the GAI Provision above, each Benefit Year for the lifetime(s) of all Measuring Lives. 
        The Owner may elect to receive the GAI at any frequency the Company offers, subject to minimum payment amount rules then in effect, but no less frequently than annually.

    If this GAI Annuity Payment Option is in effect, no Death Benefit will be paid.  However, if the Death Benefit option
        immediately prior to the Annuity Commencement Date was not the Account Value Death Benefit Option, a final payment, if available, will be made under this Rider.  Such payment shall be equal to (A) minus (B) minus (C), where:

    
      
        	

              	(A)	
                is equal to the sum of all Purchase Payments minus Bonus Credits, if applicable, if the Rider Date is the Contract Date.  If the Rider Date is after the Contract Date then
                    (A) is equal to the Contract Value on the Rider Date, plus subsequent Purchase Payments minus subsequent Bonus Credits, if applicable.

              

      

    

    
      
        	

              	(B)	
                is the sum of all Final Payment Reductions prior to the GAI Annuity Payment Option Effective
                    Date.  Final Payment Reductions are made whenever a Withdrawal occurs.  Upon Excess Withdrawals, Final Payment Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be
                    applied to (A) as the Final Payment Reduction.  Upon Conforming Withdrawals, the reduction of the Contract Value due to the Withdrawal will be applied to (A) as the Final Payment Reduction.

              

      

    

    
      
        	

              	(C)	
                is the sum of all Conforming Withdrawals on and after the GAI Annuity Payment Option Effective Date.

              

      

    

    Effect of Death

    Upon the death of the Annuitant if the Measuring Life Option is Single, this Rider will terminate.  Upon the first
        death of a Measuring Life if the Measuring Life Option is Joint, the Owner may continue the Contract and this Rider under the Joint Measuring Life Option.  If so continued, the GAI will continue for the life of the surviving Measuring Life.  Upon
        the death of the surviving Measuring Life, this Rider will terminate.

    Waivers

    Waiver of Contingent Deferred Sales Charge or CDSC / Surrender Charge or Premium Based Charge (if
        applicable)

    No Contingent Deferred Sales Charge, CDSC/Surrender Charge, or Premium Based Charge will apply to Conforming
        Withdrawals.  Excess Withdrawals will be subject to any applicable Contingent Deferred Sales Charge, CDSC/Surrender Charge, or Premium Based Charge to the extent that the total amount of Withdrawals in the Contract Year exceeds the Free Withdrawal
        Amount for that year.

    

    

    

    

    RIDER CHARGE

    The Initial Annual Rider Charge Rate shown on Page 1 of this Rider is divided by four to calculate the initial
        quarterly Rider Charge rate.  The Rider Charge rate may change as described herein, but the annual Rider Charge rate may never exceed the Guaranteed Maximum Annual Rider Charge rate shown on Page 1 of this Rider.

    A quarterly Rider Charge is deducted from the Contract Value on each quarterly anniversary of the Rider Date.

    The amount of the quarterly Rider Charge is the quarterly Rider Charge rate multiplied by the Income Base prior to
        any Automatic Annual Step-Up or Enhancement on the Valuation Date the charge is deducted.

    Quarterly Rider Charges will be deducted from each Variable Subaccount and Fixed Account on a proportional basis.  A
        pro-rata quarterly Rider Charge will be recalculated and deducted upon termination of this Rider, except if this Contract is terminated due to death.

    Any change to the Rider Charge rate will occur only on a Rider Date Anniversary.  The Rider Charge rate change is to
        the Rider Charge rate currently in effect on the Rider Date Anniversary of the change, subject to the Guaranteed Maximum Annual Rider Charge Rate shown on Page 1 of this Rider.

    The Rider Charge rate will change due to an Automatic Annual Step-Up pursuant to the Automatic Annual Step-Up (of the
        Income Base) Provision, above. Any Automatic Annual Step-Up may be declined if the Rider Charge rate increased.

    The Rider Charge rate may increase due to an Enhancement after the initial Enhancement Period pursuant to the
        Enhancement (to the Income Base) Provision, above.  Any Enhancement after the initial Enhancement Period may be declined if the Rider Charge rate increased.

    The Rider Charge rate may increase due to an additional Purchase Payment in the Benefit Year preceding the applicable
        Rider Date anniversary, if the cumulative Purchase Payments received after the first Benefit Year equal or exceed the limit shown in the Additional Purchase Payment Restriction Provision, above.

    The Rider Charge rate will not increase due to an Enhancement during the initial Enhancement Period.

    

    

    GENERAL

    GOP Death Benefit Amount

    A GOP Death Benefit is provided under the Guarantee of Principal (GOP), Enhanced Guaranteed Minimum Death Benefit
        (EGMDB) and Estate Enhancement Benefit (EEB) Death Benefit, one of which may be applicable to the Contract as shown in the Contract Specifications.

    This GOP Death Benefit Amount section does not apply if this Contract provides that all death benefits are reduced by
        the amount of all Withdrawals.  If the Contract includes a Death Benefit, including any Death Benefit Rider that has a Death Benefit Amount defined as the sum of all Purchase Payments minus all death benefit reductions, and that such death benefit
        reductions of Purchase Payments “will be in proportion to the amount withdrawn” such Death Benefit Amount definition is hereby replaced with the following:

    The sum of all Purchase Payments, minus all Death Benefit Reductions and any
        Bonus Credits.  Death Benefit Reductions are made whenever a Withdrawal occurs.

    For Withdrawals (a) prior to the Rider Date of the Variable Annuity Living
        Benefits Rider and (b) after the termination of the Variable Annuity Living Benefits Rider, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value due to the Withdrawal will be applied to the
        Purchase Payments as the Death Benefit Reduction.

    For Withdrawals while the Variable Annuity Living Benefits Rider is in force:

    
      
        	

              	(a)	
                upon Excess Withdrawals, Death Benefit Reductions are calculated proportionately; the percentage reduction of the Contract Value  due to the Excess Withdrawal will be
                    applied to the Purchase Payments as the Death Benefit Reduction, and

              

      

    

    
      
        	

              	(b)	
                upon Conforming Withdrawals, the reduction of the Contract Value due to the Conforming Withdrawal will be applied to the Purchase Payments as the Death Benefit Reduction.

              

      

    

    Mortality and Expense Risk and Administrative Charge

    While this Rider is in effect, the Mortality and Expense Risk and Administrative Charge rates for this Contract are
        shown under MORTALITY AND EXPENSE RISK AND ADMINISTRATIVE CHARGE PRIOR TO THE ANNUITY COMMENCEMENT DATE in the Contract Specifications.

    Termination of this Rider

    The Owner may terminate this Rider upon Notice to the Company any time after the 5th Rider Date
        Anniversary.  This Rider will terminate upon the earliest of:

    
      	
              (a)

            	
              the date the Contract to which this Rider is attached terminates;

            

    

    
      	
              (b)

            	
              the date the Owner is changed due to death or pursuant to an enforceable divorce agreement or decree,
                  except when Ownership is transferred to the surviving Secondary Life upon death of the Annuitant/Owner;

            

    

    
      	
              (c)

            	
              the Annuity Commencement Date except under the GAI Annuity Payment Option;

            

    

    
      	
              (d)

            	
              the death of the Annuitant if the Measuring Life Option is Single, or on the death of the last surviving
                  Measuring Life if the Measuring Life Option is Joint;

            

    

    
      	
              (e)

            	
              the date the Owner sells or assigns for value the Contract other than to the Annuitant, or discounts or
                  pledges it as collateral for a loan or as a security for the performance of an obligation or any other purpose; or

            

    

    
      	
              (f)

            	
              the date both the Income Base and GAI equal $0 as the result of an Excess Withdrawal.

            

    

    Upon termination of this Rider, the benefits and charges within this Rider will terminate.  A pro-rata Rider Charge
        will be deducted upon termination, except if this Rider is terminated due to death.

    The Lincoln National Life Insurance Company

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