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Retired Participant - A Participant that has severed his or her employment with the employer covered by the Plan <br />and is eligible to receive distribution from his or her Participant Account. <br />Quarterly Guaranteed Interest Rate - The minimum guaranteed interest rate applied to the Contract for a calendar <br />quarter. This rate may be equal to or greater than the applicable Annual Guaranteed Interest Rate. Nationwide <br />determines this rate at its sole discretion. <br />Transfer(s) - The movement of amounts attributable to Participant Accounts to a non -Companion Investment <br />Option. <br />Withdrawal - A liquidation and payment of part or all of the Contract Value directed by the Contract Owner. <br />References to "Withdraw" or "Withdrawn" will also mean Withdrawal. <br />Withdrawal Value - The value of a partial or full Withdrawal of assets from the Contract. This represents the <br />Contract Value on the date of Withdrawal minus any applicable charges stated on the "Contract Specifications <br />Page." <br />GENERAL PROVISIONS <br />Entire Contract <br />The Contract, the application for the Contract, and any endorsements or amendments to the Contract constitutes the <br />entire agreement between Nationwide and the Contract Owner. <br />Non -Participating <br />The Contract is non -participating. It does not share in the surplus of Nationwide. <br />Incontestability <br />The Contract will not be contested by Nationwide. <br />Assignment <br />The Contract may not be assigned by the Contract Owner without the prior written consent of Nationwide. <br />Communication <br />All communications described in the Contract between the Contract Owner and Nationwide must be in writing and <br />must be delivered to the respective parties' address listed on the "Contract Specifications Page." Any change of <br />address by any party to the Contract must be communicated in writing to the other party. <br />Alteration or Modification <br />No agent or other person, except an authorized elected officer of Nationwide or specifically authorized designate, <br />has the authority to change the terms and conditions of the Contract. Any changes to the Contract must be made in <br />writing and signed by Nationwide's President or Secretary. A copy of any amendment or endorsement modifying <br />the Contract will be furnished to the Contract Owner. Amendments and endorsements to the Contract may be <br />subject to state regulatory approval before taking effect. In addition, the Contract may be modified or superseded by <br />applicable law. <br />Nationwide may amend the Contract by providing the Contract Owner ninety (90) days advanced written notice. <br />The Contract Owner will receive any amendment or endorsement to the Contract. In addition, Nationwide and the <br />Contract Owner may mutually agree to amend the Contract. <br />NRC -01 IOFL 4 (Florida) (4/2011) <br />