Exhibit 23(d)(9)(b)
FIRST AMENDMENT TO
SUB-ADVISORY AGREEMENT
THIS FIRST AMENDMENT, dated as of January 1, 2009 (the "Amendment"), to the
Sub-Advisory Agreement, made as of April 30, 2007 (the "Agreement"), is by and
between LINCOLN INVESTMENT ADVISORS CORPORATION (the "Adviser") and PYRAMIS
GLOBAL ADVISORS, LLC (the "Sub-Adviser").
WHEREAS, the Adviser and the Sub-Adviser have entered into the Agreement to
with respect to management of the assets of the LVIP FI Equity-Income Fund (the
"Fund");
WHEREAS, the Adviser and the Sub-Adviser desire to amend the Agreement to
modify the Sub-Adviser's fees;
NOW, THEREFORE, in consideration of the foregoing premises and other good
and valuable consideration, the parties agree as follows:
1. The fee schedule in Section 3 of the Agreement is to be deleted and
replaced with the following fee schedule:
0.40% of the first $250,000,000
0.35% of the excess over $250,000,000
2. Except as expressly amended hereby, all provisions of the Agreement
remain in full force and effect and are unchanged in all other respects.
3. This Amendment may be executed in one or more counterparts, each of
which shall be deemed to be an original and, all of which, when taken
together, shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
signed by their duly authorized officers, all as of the day and year first
above written.
LINCOLN INVESTMENT ADVISORS
PYRAMIS GLOBAL ADVISORS, LLC CORPORATION
/s/ Xxxxxxx X. Xxxxxx /s/ Xxxxx X. Xxxxxxx
--------------------------------------- --------------------------------------
Name: Xxxxxxx X. Xxxxxx Name: Xxxxx X. Xxxxxxx
Title: Senior Vice President Title: Second Vice President
Attest: /s/ Xxxxxxxxx X. Xxxxx Attest: /s/ Xxxxx Xxxxxx
------------------------------ -----------------------------
Name: Xxxxxxxxx X. Xxxxx Name: Xxxxx Xxxxxx
Title: Senior Product Manager Title: Securities Fund Specialist
Accepted and agreed to
as of the date first above written:
LVIP FI EQUITY-INCOME FUND,
a series of Lincoln Variable Insurance Products Trust
/s/ Xxxxx X. Xxxxxxxxx
--------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Chairman
Attest: /s/ Xxxxx Xxxxxx
--------------------------
Name: Xxxxx Xxxxxx
Title: Securities Fund Specialist
