<PAGE>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST 8, 2000
Registration No. 333-5827
Registration No. 811-7645
--------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________
FORM N-4
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
(GROUP VARIABLE ANNUITY I, II & III)
Pre-Effective Amendment No. [_]
Post-Effective Amendment No. 8 [X]
AND/OR
REGISTRATION STATEMENT UNDER
THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 18 [X]
___________
LINCOLN NATIONAL VARIABLE ANNUITY ACCOUNT L
(Exact Name of Registrant)
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
1300 South Clinton Street
P.O. Box 1110
Fort Wayne, Indiana 46802
(Address of Depositor's Principal Executive Offices)
DEPOSITOR'S TELEPHONE NUMBER, INCLUDING AREA CODE: 219-455-2000
ELIZABETH A. FREDERICK, ESQUIRE
The Lincoln National Life Insurance Company
1300 S. Clinton Street
P.O. Box 1110
Fort Wayne, Indiana 46802
(Name and Complete Address of Agent for Service)
Copy to:
Kimberly J. Smith, Esquire
Sutherland Asbill & Brennan LLP
1275 Pennsylvania Avenue, N.W.
Washington, D.C. 20004-2404
It is proposed that this filing will become effective (check appropriate
box)
[X] immediately upon filing pursuant to paragraph (b) of Rule 485
[ ] on May 1, 2000, pursuant to paragraph (b) of Rule 485
[ ] 60 days after filing pursuant to paragraph (a)(1) of Rule 485
[_] on ________________ pursuant to paragraph (a)(1) of Rule 485
If appropriate, check the following box:
[_] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
Title of securities being registered:
Interests in a separate account under group variable annuity contracts.
Pursuant to Rule 429 under the Securities Act of 1933, as amended, the
prospectus and statement of additional information included herein also relate
to the registrant's registration statements on Form N-4 (File No. 333-04999 and
File No. 333-05815).
<PAGE>
Part A
The Prospectus dated May 1, 2000
(Post-Effective Amendment No. 7
filed on April 26, 2000)
is incorporated herein by reference.
<PAGE>
LINCOLN LIFE INSURANCE COMPANY
("Lincoln Life")
Group Variable Annuity Contracts I, II & III
Lincoln National Variable Annuity Account L
Supplement dated August 1, 2000 to the Prospectus dated May 1, 2000
This supplement describes certain changes to the Variable Annuity Account
("VAA"), available for allocation of Contributions under the Group Variable
Annuity Contracts noted above (the "Contracts"). Please retain this supplement
with your Prospectus for your reference. Unless otherwise stated, italicized
terms have the same definitions as in the prospectus.
Additions to the Investment Options Available under the Contracts.
On or about October 1, 2000, 10 additional investment options (each a "New Fund"
and together the "New Funds") will be available under the Contracts. If these
options are also made available under the group contract and Plan pursuant to
which a Participant's certificate was issued, the Participant may allocate
Contributions to these options as of October 1, 2000. At that time, the New
Funds may not be available in all states. Please contact your registered
representative for current information. The New Funds are listed below:
Alliance Variable Products Series Fund (Class B):
AVP Growth Portfolio
AVP Technology Portfolio
American Funds Insurance Series (Class 2):
AFIS Growth Fund
AFIS International Fund
Delaware Group Premium Fund (Service Class):
DGPF Real Estate (REIT) Series
DGPF Trend Series
Fidelity Variable Insurance Products II Fund (Service Class-2):
VIP II Contrafund
Lincoln National Capital Appreciation Fund, Inc.
Lincoln National Growth and Income Fund, Inc.
Neuberger Berman Advisers Management Trust:
AMT Mid-cap Growth
Expense Tables
All Expense Table information regarding Summary of contractowner expenses,
Annual contract fee, and VAA annual expenses also applies to the new funds. The
following Expense Table information regarding the New Funds should be added to
the annual expenses of the funds for the year-ended December 31, 1999 included
in the Contract prospectus:
1
<PAGE>
<TABLE>
<CAPTION>
Management 12b-1 Other Total Fund
fees fees expenses expenses
(after any (after any (after any
waiver/ waiver/ waiver/
reimbursements) reimbursements) reimbursements)
----------------- ------- --------------- ---------------
<S> <C> <C> <C> <C>
AVP Growth (Class B) 0.75% 0.25% 0.12% 1.12%
AVP Technology (Class B) 0.71 0.25 0.24 1.20
AFIS Growth (Class 2) 0.38 0.25 0.01 0.64
AFIS International (Class 2) 0.55 0.25 0.05 0.85
DGPF Real Estate (REIT) 0.64 0.15 0.21 1.00
(Service Class)(1)
DGPF Trend (Service Class)(1) 0.75 0.15 0.07 0.97
VIP II Contrafund(Service Class-2)(2) 0.58 0.25 0.12 0.95
Capital Appreciation 0.72 0.00 0.06 0.78
Growth and Income 0.31 0.00 0.05 0.36
AMT Mid-Cap Growth (3) 0.85 0.00 0.15 1.00
</TABLE>
(1) Effective May 1, 2000 through October 31, 2000, Delaware Management Company,
"DMC" has voluntarily agreed to waive its management fee and reimburse the
Series for expenses such that total expenses (excluding any taxes, interest,
brokerage fees, extraordinary expenses and 12b-1 fees) will not exceed
0.85%. Without such an arrangement, total operating expenses for the Service
Class would have been 1.11%. The Service Class shares are subject to an
annual 12b-1 fee of not more than 0.30% (currently set at 0.15%).
(2) Service Class 2 expenses are based on estimated expenses for the first
year.
(3) Expenses reflect expense reimbursement. Neuberger Berman Management Inc.
("NBMI") has undertaken through May 1, 2001 to reimburse certain operating
expenses, including the compensation of NBMI and excluding taxes, interest,
extraordinary expenses, brokerage commissions and transaction costs, that
exceed in the aggregate, 1.0% of the AMT Mid-Cap Growth Portfolio's average
daily net asset value. Absent such reimbursement, Total Annual Expense
for the portfolio for the year ended December 31, 1999 would have been
1.08%.
The New Funds: Information about the New Funds, including their investment
objectives and investment management, is contained below:
AVP Growth Portfolio (Class B) - Seeks to provide long-term growth of capital.
Current income is only an incidental consideration. The portfolio invests
primarily in equity securities of companies with favorable earnings outlooks,
which have long-term growth rates that are expected to exceed that of the U.S.
economy over time. Alliance Capital Management, L.P. serves as the Fund's
investment advisor.
AVP Technology Portfolio (Class B) - Seeks to emphasizes growth of capital and
invests for capital appreciation. Current income is only an incidental
consideration. The portfolio may seek income by writing listed call options.
The portfolio invests primarily in securities of companies expected to benefit
from technological advances and improvements (i.e., companies that use
technology extensively in the development of new or improved products or
processes). Alliance Capital Management, L.P. serves as the Fund's investment
advisor.
2
<PAGE>
AFIS Growth Fund (Class 2) - Seeks to make your investment grow by investing
primarily in common stocks of companies that appear to offer superior
opportunities for growth of capital. The fund is designed for investors seeking
capital appreciation through stocks. Investors in the fund should have a long-
term perspective and be able to tolerate potentially wide price fluctuations.
Capital Research and Management Company serves as the Fund's investment advisor.
AFIS International Fund (Class 2) - Seeks to make your investment grow over time
by investing primarily in common stocks of companies located outside the United
States. The fund is designed for investors seeking capital appreciation through
stocks. Investors in the fund should have a long-term perspective and be able
to tolerate potentially wide price fluctuations. Capital Research and Management
Company serves as the Fund's investment advisor.
DGPF Trend Series (Service Class) - Seeks long-term growth by investing
primarily in stocks of small companies and convertible securities of emerging
and other growth-oriented companies. Delaware Management Company serves as the
Fund's investment advisor.
DGPF REIT Series (Service Class) - Seeks to achieve maximum long-term total
return by investing primarily in the securities of real estate investment trusts
and real estate operating companies. Delaware Management Company serves as the
Fund's investment advisor and Lincoln Investment Management serves as the Fund's
subadvisor.
Fidelity VIP II Contrafund (Service Class 2) - Seeks long-term capital
appreciation by investing primarily in securities of companies whose value the
adviser believes is not fully recognized by the public. Fidelity Investments
serves as the Fund's investment advisor.
Lincoln National Capital Appreciation - Seeks long-term growth of capital in a
manner consistent with preservation of capital. The fund primarily buys stocks
in a large number of companies of all sizes if the companies are competing well
and if their products or services are in high demand. It may also buy some
money market securities and bonds, including junk bonds. Lincoln Investment
Management serves as the Fund's investment advisor and Janus Capital Corp.
serves as the Fund's sub-advisor.
Lincoln National Growth and Income - Long-term capital appreciation. The fund
buys stocks of established companies. Lincoln Investment Management serves as
the Fund's investment advisor and Goldman Sachs serves as the Fund's subadvisor.
AMT Mid-Cap Growth - Seeks capital appreciation by investing primarily in common
stocks of medium-capitalization companies, using a growth-oriented investment
approach. Neuberger Berman serves as the Fund's investment advisor.
Some advisors and /or distributors, or an affiliate may compensate Lincoln Life
(or an affiliate) for administrative, distribution, or other services. It is
anticipated that such compensation will be based on assets of the particular
fund attributable to the contracts along with certain other variable contracts
issued or administered by Lincoln Life (or an affiliate).
Additional information about the New Funds, their investment policies, risks,
fees and expenses and all other aspects of their operations, can be found in the
prospectuses for the New Funds, which will be available from Lincoln Life on or
before October 1, 2000. These prospectuses should be read carefully before
investing. THERE IS NO ASSURANCE THAT ANY NEW FUND WILL ACHIEVE ITS STATED
OBJECTIVES.
3
<PAGE>
Part B
The Statement of Additional Information
dated May 1, 2000 and the Financial Statements
(Post-Effective Amendment No. 7
filed on April 26, 2000)
are incorporated herein by reference.
<PAGE>
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
GROUP VARIABLE ANNUITY CONTRACTS I, II & III
LINCOLN NATIONAL VARIABLE ANNUITY ACCOUNT L
SUPPLEMENT DATED AUGUST 1, 2000 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2000
This supplement provides performance information in conjunction with certain
changes to the VAA available for allocation of Contributions under the Group
Variable Annuity Contracts noted above (the "Contracts"). Please retain this
supplement with your Statement of Additional Information for your reference.
Unless otherwise stated, italicized terms have the same definitions as in the
prospectus.
On or about October 1, 2000, 10 additional investment options will be available
under the Contracts: Alliance Variable Products Series Fund (Class B): AVP
Growth Portfolio; AVP Technology Portfolio; American Funds Insurance Series
(Class 2): AFIS Growth Fund; AFIS International Fund; Delaware Group Premium
Fund: DGPF REIT Series; DGPF Trend Series; Fidelity Variable Insurance Products
Fund II: VIP II Contrafund; Lincoln National Capital Appreciation Fund; Lincoln
National Growth and Income Fund; Neuberger Berman Advisors Management Trust: AMT
Mid-Cap Growth Fund (together the "New Funds"). Each New Fund is available
through a new subaccount in the VAA. The following performance information
should be added to the performance information included in the Statement of
Additional Information.
SUBACCOUNT PERFORMANCE
The Average Annual Total Return is not available for the new subaccounts,
because they will not commence operations until approximately October 1, 2000.
HISTORICAL FUND PERFORMANCE ADJUSTED FOR VAA AND CONTRACT FEES AND CHARGES.
Performance information for the periods prior to the date the subaccounts
commenced operations will be calculated based on the performance of the New
Funds and the assumption that the subaccounts were in existence for the same
periods as those indicated for the New Funds, with the Contract charges that
were in effect during the time periods shown. This performance information is
referred to as nonstandardized performance data. THIS INFORMATION DOES NOT
INDICATE OR REPRESENT FUTURE PERFORMANCE.
4
<PAGE>
The following information is hereby added to the December 31, 1999 - Nonstandard
performance data - Subaccounts of Account L table:
<TABLE>
<CAPTION>
Fund
Inception 1 3 5 10 Since
Subaccounts Date Year Years Years Years Inception
----------- ------------ ---- ----- ----- ----- ---------
<S> <C> <C> <C> <C> <C> <C>
AVP Growth 09/15/94 32.80% 29.33% 29.56% NA 28.85%
AVP Technology 01/11/96 73.65 43.38 NA NA 34.11
AFIS Growth 02/08/84 55.71 38.80 31.46 19.68 18.26
AFIS International 05/01/90 74.22 30.89 23.61 NA 15.14
DGPF Real Estate (REIT) 05/01/98 -3.72 NA NA NA -8.05
DGPF Trend 12/27/93 68.55 32.29 28.37 NA 23.13
VIP II Contrafund 01/03/95 21.61 24.25 NA NA 25.95
Capital Appreciation 02/03/94 44.01 34.52 29.36 NA 24.26
Growth and Income 12/28/81 16.37 21.45 23.70 15.47 15.28
AMT Mid-Cap Growth 11/03/97 52.34 NA NA NA 51.66
</TABLE>
<PAGE>
PART C
OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) List of Financial Statements
1. Part A. The Table of Condensed Financial Information is
incorporated by reference herein from the Registration
Statement on Form N-4 (File No. 333-5827) filed on April 26,
2000.
2. Part B. The following financial statements for the Variable
Account are incorporated by reference herein from the
Registration Statement on Form N-4 (File No. 333-5827) filed
on April 26, 2000:
Statement of Assets and Liability - December 31, 1999
Statement of Operations - Year ended December 31, 1999
Statements of Changes in Net Assets - Years ended December
31, 1999 and 1998
Notes to Financial Statements - December 31, 1999
Report of Ernst & Young LLP, Independent Auditors
3. Part B. The following statutory-basis financial statements
of The Lincoln National Life Insurance Company are
incorporated by reference herein from the Registration
Statement on Form N-4 (File No. 333-5827) filed on April 26,
2000:
Balance Sheets - Statutory-Basis - Years ended December 31,
1999 and 1998
Statements of Operations - Statutory Basis - Years ended
December 31, 1999, 1998 and 1997
Statements of Changes in Capital and Surplus - Statutory
Basis - Years ended December 31, 1999, 1998 and 1997
Statements of Cash Flows - Statutory Basis - Years ended
December 31, 1999, 1998 and 1997
Notes to Statutory-Basis Financial Statements - December 31,
1999
Report of Ernst & Young LLP, Independent Auditors
(b) Exhibits
1(a). Resolution adopted by the Board of Directors of The Lincoln
National Life Insurance Company on April 29, 1996
establishing the Lincoln National Variable Annuity Account L
("Account L")./1/
1(b). Amendment dated December 2, 1996 adopted by the Board of
Directors to resolution establishing Account L./2/
2. Not applicable.
3(a). Principal Underwriting Contract./1/
3(b). Broker-dealer sales agreement./1/
4(a). Group Variable Annuity I Contract for The Lincoln National
Life Insurance Company./9/
4(b). Group Variable Annuity II Contract for The Lincoln National
Life Insurance Company./9/
4(c). Group Variable Annuity III Contract for The Lincoln National
Life Insurance Company./9/
4(d). Endorsement to Group Annuity Contracts./9/
4(e). Group Annuity Amendment to the contract./9/
4(f). Endorsement to Certificate./9/
5(a). Application for Group Annuity Contract./9/
5(b). Participant Enrollment Form/9/
6(a). Articles of Incorporation of The Lincoln National Life
Insurance Company./5/
6(b). Bylaws of The Lincoln National Life Insurance Company./6/
7. Not applicable.
8(a). Services Agreement between Delaware Management Holdings,
Inc., Delaware Service Company, Inc., and Lincoln National
Life Insurance Company./7/
8(b). Fund Participation Agreement/Amendments for American
Century./9/
8(c). Fund Participation Agreement/Amendments for Baron./9/
8(d). Participation Agreement between The Lincoln National Life
Insurance Company and Dreyfus Life & Annuity Index Fund,
Inc. and Dreyfus Variable Investment Fund./1/
8(e). Fund Participation Agreement/Amendments for Fidelity./9/
C-1
<PAGE>
8(f). Fund Participation Agreement/Amendments for Janus./9/
8(g). Fund Participation Agreement/Amendments for The Lincoln
National Aggressive Growth Fund, Inc./9/
8(h). Fund Participation Agreement/Amendments for The Lincoln
National Social Awareness Fund, Inc./9/
8(i). Fund Participation Agreement/Amendments for Neuberger
Berman./9/
8(j). Participation Agreement between The Lincoln National Life
Insurance Company and T. Rowe Price International Services,
Inc. and T. Rowe Price Investment Services, Inc./1/
9. Consent and opinion of Jeremy Sachs, Senior Counsel, The
Lincoln National Life Insurance Company, as to the legality
of the securities being registered./1/
10(a). Consent of Ernst & Young LLP, Independent Auditors
11. Not applicable.
12. Not applicable.
13.(a) Schedule for Computation of Performance Quotations./3/
13.(b) Supplement to Schedule for Computation of Performance
Quotations./4/
14. Not applicable.
15(a). Organizational Chart of Lincoln National Life Insurance
Holding Company System./9/
15(b). Memorandum Concerning Books and Records./9/
16(a). Powers of Attorney-Todd R. Stephenson./9/
16(b). Powers of Attorney-Lawrence T. Rowland./8/
16(c). Powers of Attorney-Keith J. Ryan./9/
16(d). Powers of Attorney-H. Thomas McMeekin./8/
16(e). Powers of Attorney-Richard C. Vaughan./8/
16(f). Powers of Attorney-Jon A. Boscia./9/
/1/ Incorporated herein by reference to Pre-effective Amendment
No. 1 on Form N-4 filed by the Lincoln National Variable
Annuity Account L of The Lincoln National Life Insurance
Company with The Securities and Exchange Commission on
September 26, 1996 (File No. 333-05827).
/2/ Incorporated herein by reference to Post-effective Amendment
No. 2 on Form N-4 filed by the Lincoln National Variable
Annuity Account L of The Lincoln National Life Insurance
Company on April 30, 1998 (File No. 333-04999).
/3/ Incorporated herein by reference to Post-effective Amendment
No. 1 on Form N-4 filed by the Lincoln National Variable
Annuity Account L of The Lincoln National Life Insurance
Company on April 30, 1997 (File No. 333-05827).
/4/ Incorporated herein by reference to Post-effective Amendment
No. 2 on Form N-4 filed by the Lincoln National Variable
Annuity Account L of The Lincoln National Life Insurance
Company on May 1, 1998 (File No. 333-5827).
/5/ Incorporated by reference to the Registration Statement on
Form S-6 (333-40745) filed November 21, 1997.
/6/ Incorporated by reference to Post-effective Amendment No. 1
to the Registration Statement on Form N-4 (333-40937)
filed on November 9, 1998.
/7/ Incorporated herein by reference to the Registration
Statement on Form N-1A (2-80741), Amendment No. 21 filed on
April 10, 2000.
/8/ Incorporated herein by reference to Post-effective Amendment
No. 4 on Form N-4 filed by the Lincoln National Variable
Annuity Account L of The Lincoln National Life Insurance
Company on April 16, 1999 (File No. 333-5827).
/9/ Incorporated herein by reference to Post-Effective Amendment
No. 7 on Form N-4 (File No. 333-5827) filed on April 26,
2000.
Item 25. Directors and Officers of the Depositor
The following list contains the officers and directors of The Lincoln National
Life Insurance Company who are engaged directly or indirectly in activities
relating to Lincoln National Variable Annuity Account L as well as the
Contracts. The list also shows The Lincoln National Life Insurance Company's
executive officers.
<TABLE>
<CAPTION>
Name Positions and Offices
---- ---------------------------------------
<S> <C>
Jon A. Boscia** President and Director
John H. Gotta**** Chief Executive Officer of Life Insurance,
Senior Vice President, and Director
Lorry J. Stensrud* Chief Executive Officer of
Annuities, Executive Vice President, and
Director
Charles E. Haldeman***** Director
Cynthia A. Rose* Secretary and Assistant Vice President
Lawrence T. Rowland*** Executive Vice President and Director
Keith J. Ryan* Vice President, Controller and Chief
Accounting Officer
Todd R. Stephenson* Senior Vice President, Chief Financial
Officer and Assistant Treasurer
Eldon J. Summers* Second Vice President and Treasurer
Richard C. Vaughan** Director
Diane Dillman* Director, Annuities Compliance
Christine Frederick**** Assistant Vice President, Compliance
Officer, Lincoln Life Manufacturing
</TABLE>
* Principal business address is 1300 South Clinton Street, Fort Wayne, IN
46802-3506
** Principal business address is Center Square West Tower, 1500 Market Street
- Suite 3900, Philadelphia, PA 19102-2112
*** Principal business address is One Reinsurance Place, 1700 Magnavox Way,
Fort Wayne, IN 46804-1538
**** Principal business address is 350 Church Street, Hartford, CT 06103
*****Principal business address is One Commerce Square, 2005 Market Street
39/th/ floor, Philadelphia, PA 19103
C-2
<PAGE>
Item 26. Persons Controlled by or Under Common Control with The Lincoln
National Life Insurance Company ("Lincoln Life") or Lincoln
National Variable Annuity Account L
Lincoln National Variable Annuity Account L is a separate account of Lincoln
Life and may be deemed to be controlled by Lincoln Life although Lincoln Life
will follow voting instructions of Contractholders with respect to voting on
certain important matters requiring a vote of Contractholders.
See Exhibit 15(a): The Organizational Chart of Lincoln National Life Insurance
Holding Company System is hereby incorporated herein by this reference.
C-3
<PAGE>
Item 27. Number of Contractholders
As of June 30, 2000, Registrant had 903 Contractholders.
Item 28. Indemnification
Under the Participation Agreements entered into between Lincoln Life and the
Dreyfus Life & Annuity Index Fund, Inc., Dreyfus Variable Investment Fund and
Dreyfus Corporation, Variable Insurance Products Funds I and II and Fidelity
Distributors Corporation, Twentieth Century Management Company, and T. Rowe
Price (the "Funds"), Lincoln Life and its directors, officers, employees, agents
and control persons have been indemnified by the Funds against any losses,
claims or liabilities that arise out of any untrue statement or alleged untrue
statement or omission of a material fact in the Funds' registration statements,
prospectuses or sales literature. In addition, the Funds will indemnify Lincoln
Life against any liability, loss, damages, costs or expenses which Lincoln Life
may incur as a result of the Funds' incorrect calculations, incorrect reporting
and/or untimely reporting of the Funds' net asset values, dividend rates or
capital gain distribution rates.
Insofar as indemnification for liability arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act
of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to
C-4
<PAGE>
a court of appropriate jurisdiction the question whether such indemnification by
it is against public policy as expressed in the Securities Act of 1933 and will
be governed by the final adjudication of such issue.
Item 29. Principal Underwriter
(a) Lincoln Financial Advisors Corporation also acts as the principal
underwriter for Lincoln Life & Annuity Variable Annuity Account
L, the VA-I Separate Account of UNUM Life Insurance Company of
America, and the VA-1 Separate Account of First UNUM Life
Insurance Company.
(b)(1) The following table sets forth certain information regarding the
officers and directors of Lincoln Financial Advisors Corporation:
<TABLE>
<CAPTION>
NAME AND ADDRESS POSITIONS AND OFFICES
----------------
WITH LINCOLN FINANCIAL ADVISORS CORPORATION
-------------------------------------------
<S> <C>
J. Michael Hemp***** President and Director
John M. Behrendt** Vice President
Jeffrey C. Carleton***** Vice President
Lucy D. Gase** Vice President, Assistant Secretary
and Director
Matthew Lynch***** Vice President, Chief Financial Officer,
Administrative Officer, and Director
C. Gary Shimmin***** Vice President
Gary D. Giller**** Director
Michael E. McMath***** Senior Vice President and Director
Janet C. Chrzan*** Vice President and Treasurer
Susan Schildt****** Director
Cynthia A. Rose* Secretary
</TABLE>
* Principal business address of each person is 1300 S. Clinton Street, Fort
Wayne, Indiana 46802.
** Principal business address of each person is 200 East Berry Street, Fort
Wayne, Indiana 46802-2706.
*** Principal business address is Center Square West Tower, 1500 Market Street
- Suite 3900, Philadelphia, PA 19102-2118
**** 7650 Rivers Edge Dr., Suite 250, Columbus, OH 43235.
*****350 Church Street, Hartford, CT 06103
c)
******Principal business address is 14911 Quorum Drive, Suite 300, Dallas, TX
75240-7534.
<TABLE>
<CAPTION>
Name of Net Underwriting
Principal Discounts and Compensation Brokerage
Underwriter Commissions on Redemption Commissions Compensation
----------- ---------------- ------------- ----------- ------------
<S> <C> <C> <C> <C>
Lincoln Financial Advisors Corporation None None None 7,855,781
</TABLE>
C-5
<PAGE>
Item 30. Location of Accounts and Records
Exhibit 15(b) is hereby expressly incorporated herein by this reference (to be
updated).
Item 31. Management Services
None
Item 32. Undertakings and Representations
The Registrant hereby undertakes:
(a) to file a post-effective amendment to this registration statement as
frequently as is necessary to ensure that the audited financial statements
in this registration statement are never more than 16 months old for so
long as payments under the variable annuity contracts may be accepted,
unless otherwise permitted.
(b) to include either (1) as part of any application to purchase a contract
offered by the prospectus, a space that an applicant can check to request a
Statement of Additional Information, or (2) a post card or similar written
communication affixed to or included in the prospectus that the applicant
can remove to send for a Statement of Additional Information.
(c) To deliver any Statement of Additional Information and any financial
statements required to be made available under this Form promptly upon
written or oral request.
403(b) ANNUITIES
----------------
The Registrant intends to rely on the no-action response dated November 28,
1988, from Ms. Angela C. Goelzer of the Commission staff to the American Council
of Life Insurance concerning the redeemability of Section 403(b) annuity
contracts and the Registrant has complied with the provisions of paragraphs (1)-
(4) thereof.
TEXAS ORP
---------
The Registrant intends to offer Contracts to Participants in the Texas
Optional Retirement Program. In connection with that offering, Rule 6c-7 of the
Investment Company Act of 1940 is being relied upon and paragraphs (a)-(d) of
that Section will be complied with.
FEES AND CHARGES
----------------
The Lincoln National Life Insurance Company hereby represents that the fees
and charges deducted under the Contract, in the aggregate, are reasonable in
relation to the services rendered, the expenses expected to be incurred, and the
risks assumed by The Lincoln National Life Insurance Company.
C-6
<PAGE>
SIGNATURES
(a) As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant certifies that it meets the requirements of Securities Act
Rule 485(b) for effectiveness of this Amendment and has caused this Amendment to
the Registration Statement to be signed on its behalf, in the City of Fort
Wayne, and the State of Indiana of this 8th day of August, 2000.
LINCOLN NATIONAL VARIABLE ANNUITY
Account L - Group Variable Annuity
(Registrant)
/s/ Kelly D. Clevenger
By:_____________________________
Kelly D. Clevenger
Vice President, LNL
By: THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Depositor)
/s/ Lorry J. Stensrud
By:_____________________________
Lorry J. Stensrud
(Signature-Officer of Depositor)
Chief Executive Officer & Executive
Vice President, LNL
(Title)
(b) As required by the Securities Act of 1993, this Amendment to the
Registration Statement has been signed for the Depositor by the following
persons in the capacities and on the dates indicated.
Signature Title Date
--------- ----- ----
** President and Director August 8, 2000
------------------------ (Principal Executive Officer)
Jon A. Boscia
* Executive Vice President August 8, 2000
------------------------ and Director
Lawrence T. Rowland
** Vice President and Controller August 8, 2000
------------------------ (Principal Accounting Officer)
Keith J. Ryan
/s/ Janet Chrzan Senior Vice President, Chief August 8, 2000
------------------------ Financial Officer and Director
Janet Chrzan (Principal Financial Officer)
Chief Executive Officer of , 2000
________________________ Life Insurance, Executive Vice
John H. Gotta President and Director
/s/ Lorry J. Stensrud Chief Executive Officer August 8, 2000
________________________ of Annuities, Executive Vice
Lorry J. Stensrud President and Director
Director , 2000
------------------------
Charles E. Haldeman
* Director August 8, 2000
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Richard C. Vaughan
/s/ Steven M. Kluever Pursuant to a Power of Attorney filed with
*By____________________ Post-Effective Amendment No. 4 to the
Steven M. Kluever Registration Statement
/s/ Steven M. Kluever Pursuant to a Power of Attorney filed with
**By ___________________ Post-Effective Amendment No. 7 to the
Steven M. Kluever Registration Statement
