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 References to "Withdraw" or "Withdrawn" will also mean Withdrawal.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 In addition, the Contract may be modified or superseded by applicable law.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