5th AMENDMENT TO SUB-ADVISORY AGREEMENT

5^th AMENDMENT TO

SUB-ADVISORY AGREEMENT

THIS 5th AMENDMENT TO THE SUB-ADVISORY AGREEMENT, made this 31^st day of January, 2019 (the “Amendment”), is between Lincoln Investment Advisors Corporation, a Tennessee corporation (“LIAC”) and BlackRock Investment Management, LLC (“BlackRock”), a Delaware corporation.

Recitals

1. LIAC currently serves as investment adviser to the Lincoln Variable Insurance Products Trust (the “Trust”);

2. BlackRock currently subadvises several series of LVIP pursuant to a written subadvisory agreement dated August 27, 2012 as amended October 1, 2015, February 8, 2016, April 21, 2016 and March 20, 2017 (the “Agreement”),

3. LIAC wishes to appoint BlackRock to serve as sub-adviser to the LVIP BlackRock Global Real Estate Fund (the “Fund”), a series of the Trust, and BlackRock and LIAC desire to amend the fee schedule (“Schedule A”) to the Agreement to add the Fund;

Representations

1. LIAC represents and warrants that approval of this amendment has been obtained from the Trust’s Board of Trustees at an in-person meeting held December 4, 2018.

Amendment

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. The Recitals are incorporated herein and made a part of the Agreement.

2. The Representations are incorporated and made a part of the Agreement.

3. Section 1(m) shall be deleted and replaced with the following:

The Sub-Adviser is authorized to enter into trading agreements and execute any documents (e.g., ISDAs, control agreements, clearing agreements and other trading arrangements on behalf of the Trust or a Fund, as applicable) and take any other actions required to make investments pursuant to the Prospectus and SAI, which may include any market and/or industry standard documentation.

4. Schedule A shall be deleted and replaced with the attached amended Schedule A effective as of the date hereof, to reflect the addition of the Fund to the Agreement.

5. All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.

6. This Amendment may be executed in two or more counterparts which together shall constitute one instrument.

Signature Page Follows

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers as of the day and year first above written.

LINCOLN INVESTMENT ADVISORS CORPORATION		BLACKROCK INVESTMENT MANAGEMENT, LLC
By: /s/ ▇▇▇▇▇▇ ▇. Bromchetti		By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇
Name:  ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇		Name:   ▇▇▇▇▇▇▇▇ ▇▇▇▇
Title:  President		Title:     Director

SCHEDULE A

Fee Schedule

The Adviser shall pay to the Sub-Adviser compensation for services rendered to each Fund at an annual rate as follows:

Effective Date		Funds		Fees payable on assets of the     Managed Portion
February 8, 2016		LVIP BlackRock Dividend Value Managed Volatility Fund (index sleeve)		[REDACTED]
October 1, 2015		LVIP BlackRock Equity Dividend Managed Volatility Fund (active sleeve)		[REDACTED]
August 27, 2012		LVIP BlackRock Emerging Markets Managed Volatility Fund		[REDACTED]
May 1, 2017		LVIP BlackRock Scientific Allocation Fund		[REDACTED]
February 11, 2019		LVIP BlackRock Global Real Estate Fund		[REDACTED]

Effective Date		Funds		Fees payable on aggregate average daily net     assets of the Managed Portions
May 1, 2016		LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund		[REDACTED]