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EXHIBIT (d)(1)(d)
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AMENDED EXHIBIT A
GARTMORE VARIABLE INSURANCE TRUST
INVESTMENT ADVISORY AGREEMENT
(EFFECTIVE , 2002)
Funds of the Trust Advisory Fees
Gartmore GVIT Total Return Fund 0.60% on assets up to $1 billion
(formerly Total Return Fund) 0.575% on assets of $1 billion and more but less
than $2 billion
0.55% on assets of $2 billion and more but less
than $5 billion
0.50% for assets of $5 billion and more
Gartmore GVIT Growth Fund 0.60% on assets up to $1 billion
(formerly Capital Appreciation Fund) 0.575% on assets of $1 billion and more but less
than $2 billion
0.55% on assets of $2 billion and more but less
than $5 billion
0.50% for assets of $5 billion and more
Gartmore GVIT Government Bond Fund 0.50% on assets up to $1 billion
(formerly Government Bond Fund) 0.475% on assets of $1 billion and more but less
0.45% on assets of $2 billion and more but less
than $5 billion
0.40% for assets of $5 billion and more
Gartmore GVIT Money Market Fund 0.40% on assets up to $1 billion
(formerly Money Market Fund) 0.38% on assets of $1 billion and more but less
than $2 billion
0.36% on assets of $2 billion and more but less
than $5 billion
0.34% for assets of $5 billion and more
Gartmore GVIT Money Market Fund II 0.50% on assets up to $1 billion
(formerly Money Market Fund II) 0.48% on assets of $1 billion and more but less
0.46% on assets of $2 billion and more but less
0.44% for assets of $5 billion and more
X.X. Xxxxxx GVIT Balanced Fund 0.75% on assets up to $100 million
(formerly Nationwide Balanced Fund and 0.70% for assets of $100 million and more
X.X. Xxxxxx NSAT Balanced Fund)
Xxxxxxxx GVIT Value Fund 0.80% on assets up to $50 million
(formerly Nationwide Equity Income Fund, 0.65% for assets of $50 million and more but less
Federated NSAT Equity Income Fund and )
Federated GVIT Equity Income Fund)
than $500 million
0.55% for assets of $500 million and more
Gartmore GVIT Worldwide Leaders Fund 1.00% on assets up to $50 million
(formerly Nationwide Global Equity Fund 0.95% for assets of $50 million and more
and Nationwide Global 50 Fund)
-- 56 --
AMENDED EXHIBIT A
GARTMORE VARIABLE INSURANCE TRUST)
INVESTMENT ADVISORY AGREEMENT
(EFFECTIVE , 2002)
PAGE 2
Funds of the Trust Advisory Fees
Federated GVIT High Income Bond Fund 0.80% on assets up to $50 million
(formerly Nationwide High Income Bond Fund 0.65% for assets of $50 million and more but less
and Federated NSAT High Income Bond than $250 million
Fund) 0.60% on assets of $250 million and more but less
than $500 million
0.55% for assets of $500 million and more
MAS GVIT Multi Sector Bond Fund 0.75% on assets up to $200 million
(formerly Nationwide Multi Sector Bond Fund 0.70% for assets of $200 million and more
and MAS GVIT Multi Sector Bond Fund)
Dreyfus GVIT Mid Cap Index Fund 0.50% on assets up to $250 million
(formerly Nationwide Mid Cap Index Fund, 0.49% for assets of $250 million and more but less
Nationwide Select Advisers Mid Cap Fund) than $500 million
and Dreyfus NSAT Mid Cap Index Fund) 0.48% on assets of $500 million and more but less
than $750 million
0.47% on assets of $750 million and more but less
than $1 billion
0.45% for assets of $1 billion and more
GVIT Small Cap Growth Fund 1.10% of the Fund's average daily net assets
(formerly Nationwide Select Advisers Small
Cap Growth Fund and Nationwide
Small Cap Growth Fund)
GVIT Small Cap Value Fund 0.90% on assets up to $200 million
(formerly Nationwide Small Cap Value Fund) 0.85% for assets of $200 million and more
Strong GVIT Mid Cap Growth Fund 0.90% on assets up to $500 million
(formerly Nationwide Strategic Growth Fund and 0.85% for assets of $500 million and more
Strong NSAT Mid Cap Growth Fund)
Nationwide GVIT Strategic Value Fund 0.90% of the Fund's average daily net assets
(formerly Nationwide Strategic Value Fund)
GVIT Small Company Fund 0.93% of the Fund's average daily net assets
(formerly Nationwide Small Company Fund)
Gartmore GVIT Global Technology and 0.98% of the Fund's average daily net assets
Communications Fund
(formerly Gartmore NSAT Global Technology
and Communications Fund)
-- 57 --
AMENDED EXHIBIT A
GARTMORE VARIABLE INSURANCE TRUST)
INVESTMENT ADVISORY AGREEMENT
(EFFECTIVE , 2002)
FUNDS OF THE TRUST ADVISORY FEES
Gartmore GVIT Global Health Sciences Fund 1.00% of the Fund's average daily net assets
(formerly Nationwide Global Life Sciences Fund II
and Gartmore NSAT Global Health
Sciences Fund)
Xxxxxx GVIT Growth Focus Fund1 0.90% on assets up to $500 million
(formerly the Nationwide Growth Focus Fund II 0.80% on the next $1.5 billion in assets
and Xxxxxx NSAT Growth Focus Fund) 0.75% on assets of $2 billion and more
Xxxxxxxx XXXX X.X. Growth Leaders Fund2 0.90% on assets up to $500 million
(formerly Gartmore GVIT U.S. Leaders Fund) 0.80% on the next $1.5 billion in assets
0.75% on assets of $2 billion and more
Gartmore GVIT Investor Destinations 0.13% of the Fund's average daily net assets
Aggressive Fund
(formerly NSAT Investor Destinations Aggressive Fund)
Gartmore GVIT Investor Destinations Moderately Aggressive Fund
(formerly NSAT Investor Destinations Moderately Aggressive Fund)
Gartmore GVIT Investor Destination Moderate Fund
(formerly NSAT Investor Destinations Moderate Fund)
Gartmore GVIT Investor Destinations Moderately Conservative Fund
(formerly NSAT Investor Destinations Moderately Conservative Fund)
Gartmore GVIT Investor Destinations Conservative Fund
(formerly NSAT Investor Destinations Conservative Fund)
Gartmore GVIT Nationwide Leaders Fund 0.90% on assets up to $500 million
(formerly Gartmore GVIT U.S. Leaders Fund) 0.80% on the next $1.5 billion in assets
0.75% on assets of $2 billion and more
Gartmore GVIT Micro Cap Equity Fund 1.25% of the Fund's average daily net assets
Gartmore GVIT Mid Cap Growth Fund 0.75% of the Fund's average daily net assets
Dreyfus GVIT International Value Fund 0.75% on assets up to $500 million
0.70% on assets of $500 million and more
GVIT Equity 500 Index Fund 0.24% of the Fund's average daily net assets
1 Performance Fee for the Xxxxxx GVIT Growth Focus Fund
This base advisory fee listed above is adjusted each quarter, beginning one year
after commencement of operations, depending on the Fund's investment performance
for the 36 months** preceding the end of that month, relative to the investment
performance of the Fund's benchmark, the Xxxxxxx 1000 Growth Index. The base
fee is either increased or decreased by the following amounts at each
breakpoint, based on whether the Fund has out- or under-performed the Xxxxxxx
1000 Growth Index by more or less than 1200 basis points over the preceding
rolling 36 month period:
For assets up to $500 million +/- 22 basis points
Next $1.5 billion in assets +/- 18 basis points
Assets of $2 billion and more +/- 16 basis points
The investment performance of the Xxxxxx GVIT Growth Focus Fund will be the sum
of: (1) the change in the Fund's value during such period; (2) the value of the
Fund's cash distributions (from net income and realized net gains) having a
record date during such calculation period; and (3) the value of any capital
gains taxes paid or accrued during such calculation period for undistributed
realized long-term capital gains from the Fund. For this purpose, the value of
distributions per share of realized capital gains, of dividends per share paid
from investment income and of capital gains taxes per share reinvested in the
Fund at the Fund's value in effect at the close of business on the record date
for the payment of such distributions and dividends and the date on which
provision is made for such taxes, after giving effect to such distribution,
dividends and taxes.
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Xxxxxxx 1000 Growth Index Performance:
The performance of the Xxxxxxx 1000 Growth Index for a calculation period,
expressed as a percentage of the Xxxxxxx 1000 Growth Index, at the beginning of
such period will be the sum of: (1) the change in the level of the Xxxxxxx 1000
Growth Index during such period; and (2) the value, as calculated consistent
with the Xxxxxxx 1000 Growth Index, of cash distributions having an ex-dividend
date during such period made by those companies whose securities comprise the
Xxxxxxx 1000 Growth Index. For this purpose, cash distributions on the
securities that comprise the Xxxxxxx 1000 Growth Index will be treated as if
they were reinvested in the Xxxxxxx 1000 Growth Index at least as frequently as
the end of each calendar quarter following payment of the dividend.
** After the first twelve months of operations of the Fund, the performance
fee will be phased in on a progressive basis over the next 24 months. The
performance fee will be calculated on a progressive basis by multiplying
the applicable fee by a fraction, the numerator of which is the number of
months since commencement of operations and the denominator of which is 36
(the total phase in period). Beginning thirty-six months after commencement
of operations, the performance fee will be applied completely.
2 Performance Fee for the Gartmore GVIT U.S. Growth Leaders Fund
This base advisory fee listed above is adjusted each quarter, beginning one year
after commencement of operations, depending on the Fund's investment performance
for the 36 months*** preceding the end of that month, relative to the investment
performance of the Fund's benchmark, the S&P 500 Index. The base fee is either
increased or decreased by the following amounts at each breakpoint, based on
whether the Fund has out- or under-performed the S&P 500 Index by more or less
than 1200 basis points over the preceding rolling 36 month period:
For assets up to $500 million +/- 22 basis points
Next $1.5 billion in assets +/- 18 basis points
Assets of $2 billion and more +/- 16 basis points
The investment performance of the Fund will be the sum of: (1) the change in
the Fund's value during such period; (2) the value of the Fund's cash
distributions (from net income and realized net gains) having an record date
during such calculation period; and (3) the value of any capital gains taxes
paid or accrued during such calculation period for undistributed realized
long-term capital gains from the Fund. For this purpose, the value of
distributions per share of realized capital gains, of dividends per share paid
from investment income and of capital gains taxes per share reinvested in the
Fund at the Fund's value in effect at the close of business on the record date
for the payment of such distributions and dividends and the date on which
provision is made for such taxes, after giving effect to such distribution,
dividends and taxes.
S&P 500 Index Performance:
The performance of the S&P 500 Index for a calculation period, expressed as a
percentage of S&P 500 Index, at the beginning of such period will be the sum of:
(1) the change in the level of the S&P 500 Index during such period; and (2) the
value, as calculated consistent with the S&P 500 Index, of cash distributions
having an ex-dividend date during such period made by those companies whose
securities comprise the S&P 500 Index. For this purpose, cash distributions on
the securities that comprise the S&P 500 Index will be treated as if they were
reinvested in the S&P 500 Index at least as frequently as the end of each
calendar quarter following payment of the dividend.
*** After the first twelve months of operations of the Fund, the performance
fee will be phased in on a progressive basis over the next 24 months. The
performance fee will be calculated on a progressive basis by multiplying
the applicable fee by a fraction, the numerator of which is the number of
months since commencement of operations and the denominator of which is 36
(the total phase in period). Beginning thirty-six months after commencement
of operations, the performance fee will be applied completely.
ADVISER
GARTMORE MUTUAL FUND CAPITAL TRUST
By: ----------------------------------
Name:---------------------------------
Title:--------------------------------
TRUST
GARTMORE VARIABLE INSURANCE TRUST
By: ----------------------------------
Name:---------------------------------
Title:--------------------------------
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