Exhibit 23(d)(1)(f)
[LOGO Lincoln Financial Group(R)] Lincoln Variable Insurance Products Trust
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
Xxxxxx Xxxxxx xx Xxxxxxx
April 30, 2008
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP SSgA Funds
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the Funds listed in Schedule A (the "Funds"), each a series of Lincoln
Variable Insurance Products Trust, and Lincoln Investment Advisors Corporation
(the "Adviser") with respect to the portfolio management of the Fund.
1. Advisory Expense Waiver. The Adviser has agreed to waive a portion of the
advisory fee payable to the Adviser under the Investment Management
Agreement, dated as of April 30, 2007, as amended ("Investment Management
Agreement"), between the Fund and the Adviser, as set forth in the attached
Schedule A.
2. Term and Termination. This Agreement shall become effective on May 1,
2008 (with the exception of the LVIP SSgA Emerging Markets 100 Fund, which
shall be effective as of June 18, 2008) and shall continue for a period of
one (1) year, ending on April 30, 2009. The Agreement shall renew
automatically for one-year terms unless the Trust or the Adviser provides
written notice of the termination of the Agreement within 30 days of the end
of the then current term. In addition, this Agreement will terminate
automatically in the event of:
a. the termination of the Investment Management Agreement;
b. the termination of the Sub-Advisory Agreement, executed as of
April 30, 2008, between the Adviser and SSgA Funds Management, Inc.;
or
c. a change in the sub-advisory fee rates under the Sub-Advisory
Agreement between the Adviser and SSgA Funds Management, Inc.
3. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Delaware, provided that nothing in
this Agreement shall be construed in a manner inconsistent with the
Investment Company Act of 1940, as amended, or the Investment Advisers Act
of 1940, as amended.
Lincoln Investment Advisors Corporation
Page 2
Please indicate your approval of this Agreement by signing and returning a copy
of this letter to the Fund.
Very truly yours,
LVIP SSgA Bond Index Fund LVIP SSgA International Index Fund
LVIP SSgA Developed International 150 Fund LVIP SSgA Large Cap 100 Fund
LVIP SSgA Emerging Markets 100 Fund LVIP SSgA Small-Mid Cap 200 Fund
each a series of Lincoln Variable Insurance Products Trust
/s/ Xxxxxxx X. Xxxxx, Xx.
------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Second Vice President and Chief Accounting Officer
Agreed to:
Lincoln Investment Advisors Corporation
/s/ Xxxxx X. Xxxxxxx
------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Second Vice President
SCHEDULE A
Avg. Daily Net Waiver
Fund Name Assets of the Fund Amount*
--------- ------------------ -------
LVIP SSgA Bond Index Fund........................... First $500 million 0.07%
Over $500 million 0.12%
LVIP SSgA Developed International 150 Fund.......... First $100 million 0.35%
Over $100 million 0.43%
LVIP SSgA Emerging Markets 100 Fund................. First $100 million 0.69%
Over $100 million 0.76%
LVIP SSgA International Index Fund.................. First $500 million 0.06%
Over $500 million 0.09%
LVIP SSgA Large Cap 100 Fund........................ First $100 million 0.12%
Over $100 million 0.22%
LVIP SSgA Small-Mid Cap 200 Fund.................... First $100 million 0.29%
Over $100 million 0.39%
* These amounts are stated on an annual basis.
