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THE LINCOLN NATIONAL LIFE INSURANCE COMPANY <br />Home Office Location: Fort Wayne, Indiana <br />GROUP ANNUITY AMENDMENT NO. 1 <br />Attached to and made part of your Group Annuity Contract Number: 897863+074 <br /> <br />Contract Owner: City of Everett <br /> <br />Effective Date of this amendment: January 12, 2024 <br /> <br />This Amendment is made a part of the Contract to which it is attached and is effective as <br />of the Amendment Effective Date shown above. This Amendment modifies certain provisions of the <br />Contract as described below. In the event of a conflict with any provision of the Contract, the provisions of <br />this Amendment will control. <br /> <br />Section b.2 of the Contract Specifications provision entitled PAYMENT OPTIONS UPON <br />CONTRACT TERMINATION is hereby replaced as follows: <br /> <br />2. bearing interest at the 5 year average of the Bloomberg U.S. Aggregate Bond Index yield to worst as <br />of the most recent month end prior to the Payout Initiation Date; and <br /> <br />The following definition is hereby added to the Contract: <br /> <br />The MINIMUM VALUE ADJUSTMENT is equal to the difference between the Book Value and the <br />Minimum Value of contract number 896079+074 as of termination. <br /> <br /> <br /> <br />The Lincoln National Life Insurance Company <br /> <br /> <br /> <br /> <br /> <br /> <br />For inquiries regarding coverage of this Amendment and assistance in resolving complaints, please <br />contact our administrative office at 1301 South Harrison Street, Fort Wayne, IN 46802 or by calling 800- <br />234-3500. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />AE-714 Conversion Amendment