aws load balancer ssl termination implications

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http://serverfault.com – If I set up a load balancer on aws that terminates ssl at the load balancer, then the requests being sent to the application server is in plain text. That has definite security implications. How do folks mitigate this implication in practice? If alternatively, I set up https traffic between load balancer and the application servers also, what are the performance implications? There is bound to be performance hit but how does it compare to a non load balanced traffic directly from client to end application server? (HowTos)