AXA PREMIER VIP TRUST AMENDMENT NO. 1 INVESTMENT ADVISORY AGREEMENT

Exhibit (d)(33)(i)

EXECUTION COPY

AXA PREMIER VIP TRUST

AMENDMENT NO. 1

INVESTMENT ADVISORY AGREEMENT

AMENDMENT NO. 1 dated as of September 20, 2010 (“Amendment No. 1”) to the Investment Advisory Agreement dated as of August 1, 2008 (the “Agreement”) between AXA Equitable Life Insurance Company, a New York corporation (“AXA Equitable” or “Manager”) and Xxxxxxx & Company N.Y. Ltd., a corporation organized under the laws of the Province of Ontario (the “Adviser”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Agreement.

WHEREAS, AXA Equitable and the Adviser have entered into the Agreement in connection with the Adviser acting as an investment adviser to the Multimanager Large Cap Growth Portfolio, a series of AXA Premier VIP Trust (“Trust”); and

WHEREAS, AXA Equitable and the Adviser desire to modify the Agreement to change the series for which the Adviser provides services from the Multimanager Large Cap Growth Portfolio to the Multimanager Aggressive Equity Portfolio.

NOW, THEREFORE, AXA Equitable and the Adviser agree to modify the Agreement as follows:

1. Portfolio Change. Effective September 20, 2010, all references in the Agreement to the Multimanager Large Cap Growth Portfolio are hereby deleted and replaced with the Multimanager Aggressive Equity Portfolio.

2. Name of Adviser. Effective August 1, 2008, all references in the Agreement to Xxxxxxx & Co. NY Ltd. are hereby deleted and replaced with Xxxxxxx & Company N.Y. Ltd.

3. Appendix A. Appendix A to the Agreement setting forth the Portfolios of the Trust for which the Adviser is appointed as the investment adviser and the fee payable to the Adviser with respect to each Portfolio is hereby replaced in its entirety by Appendix A attached hereto.

4. Ratification. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

5. Governing Law. This Amendment No. 1 shall be construed and interpreted in accordance with the laws of the State of New York, or any of the applicable provisions of the Investment Company Act. To the extent that the laws of the State of New York, or any of the provisions of this Amendment No. 1, conflict with applicable provisions of the Investment Company Act, the latter shall control.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first set forth above.

AXA EQUITABLE LIFE INSURANCE COMPANY						XXXXXXX & COMPANY N.Y. LTD.
By:		/s/ Xxxxxx X. Xxxxx				By:		/s/ Xxxx Xxxxxxx
		Xxxxxx X. Xxxxx Senior Vice President						Name: Xxxx Xxxxxxx Title: Executive Vice President and Chief Financial Officer
						By:		/s/ Xxx Xxxxxx
								Name: Xxx Xxxxxx
								Title: Senior Vice President, Finance

APPENDIX A

TO

INVESTMENT ADVISORY AGREEMENT

WITH

XXXXXXX & COMPANY N.Y. LTD.

Fund		Annual Advisory Fee Rate**
Multimanager Aggressive Equity Portfolio*		0.40% of the Xxxxxxx Allocated Portion’s average daily net assets up to and including $100 million; 0.35% of the Xxxxxxx Allocated Portion’s average daily net assets over $100 million up to and including $200 million; 0.27% of the Xxxxxxx Allocated Portion’s average daily net assets over $200 million.

* Fee to be paid with respect to this Portfolio shall be based only on the portion of the Portfolio’s average daily net assets advised by the Adviser, which may be referred to as the “Xxxxxxx Allocated Portion.”

** The daily advisory fee for the Xxxxxxx Allocated Portion is calculated by multiplying the aggregate net assets of the Xxxxxxx Allocated Portion at the close of the immediately preceding business day by the Annual Advisory Fee Rate calculated as set forth above and then dividing the result by the number of days in the year.