Common use of Applicable Reimbursement Level and Term of Reimbursement Clause in Contracts

Applicable Reimbursement Level and Term of Reimbursement. For the period from May 1, 2020 through April 30, 2021, IICO, IDI and/or WISC agree to reimburse sufficient management fees, Rule 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary Portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for each Portfolio set forth below at the level in the following table (the “Reimbursement Amount”): Portfolio Class I Class II Ivy VIP Core Equity 0.95% Ivy VIP Global Growth 1.13% Ivy VIP Mid Cap Growth 0.85% 1.10% Ivy VIP Small Cap Growth 1.14%

Applicable Reimbursement Level and Term of Reimbursement. For the period from May 1, 2020 2019 through April 30, 20212020, IICO, IDI and/or WISC agree to reimburse sufficient management fees, Rule 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary Portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for each Portfolio set forth below at the level in the following table (the “Reimbursement Amount”): Portfolio Class I Class II Ivy VIP Core Equity 0.950.95 % Ivy VIP Global Growth 1.131.13 % Ivy VIP Mid Cap Growth 0.850.85 % 1.101.10 % Ivy VIP Small Cap Growth 1.141.14 %

Applicable Reimbursement Level and Term of Reimbursement. For the period from May 1, 2020 2021 through April 30, 20212022, IICO, IDI and/or WISC agree to reimburse sufficient management fees, Rule 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary Portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for each Portfolio set forth below at the level in the following table (the “Reimbursement Amount”): Portfolio Class I Class II Ivy VIP Core Equity 0.95% Ivy VIP Global Growth 1.13% Ivy VIP Mid Cap Growth 0.85% 1.10% Ivy VIP Small Cap Growth 1.14%

Applicable Reimbursement Level and Term of Reimbursement. For the period from May 1April 30, 2020 2018 through April 30, 20212019, IICO, IDI and/or WISC agree to reimburse sufficient management fees, Rule 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary Portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for each Portfolio set forth below at the level in the following table (the “Reimbursement Amount”): Portfolio Class I Class II Ivy VIP Core Equity 0.95% 0.95% Ivy VIP Global Growth 1.13% 1.13% Ivy VIP Small Cap Growth 1.14% 1.14% Ivy VIP Mid Cap Growth 0.85% 1.10% Ivy VIP Small Cap Growth 1.14%

Applicable Reimbursement Level and Term of Reimbursement. For the period from May October 1, 2020 2016 through April 30, 20212018, IICO, IDI and/or WISC agree to reimburse sufficient management fees, Rule 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary Portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for each Portfolio set forth below at the level in the following table (the “Reimbursement Amount”): Portfolio Class I Class II Ivy VIP Core Equity 0.950.95 % Ivy VIP Global Growth 1.13% Ivy VIP Mid Cap Growth 0.85% 1.101.13 % Ivy VIP Small Cap Growth 1.141.14 %