EXHIBIT 5b
CIGNA Variable Products Group
0000 Xxxx Xxxxxx
Xxxxxxxxxxx, XX 00000
April 30, 1996
CIGNA Investments, Inc.
000 Xxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000
Re: Master Investment Advisory Agreement Dated as of April 26, 1988 (the
"Agreement") Between CIGNA Investments, Inc. (the "Adviser") and CIGNA
Variable Products Group (the "Trust")
Dear Madam or Sir:
This is to confirm that the management fee for the series of the Trust known
as CIGNA Variable Products S&P 500 Index Fund (f/k/a Companion Fund) (the
"Fund") has been reduced effective January 1, 1996 from 0.35% of the average
daily net asset value of the Fund to 0.25% of the average daily net asset
value of the Fund. All other terms and conditions of the Agreement remain in
full force and effect.
Please indicate your agreement with the foregoing by signing below.
Copies of the Master Trust Agreement establishing the Trust are on file with
the Secretary of the Commonwealth of Massachusetts, and notice is hereby given
that this document is executed on behalf of the Trust by an officer of the
Trust and not individually and that any obligations of or arising out of this
document are not binding upon any of the Trustees, officers, shareholders,
employees or agents of the Trust individually, but are binding only upon the
assets and property of the Trust.
Sincerely,
CIGNA VARIABLE PRODUCTS GROUP
By: /s/ R. Xxxxx Xxxxx
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By: R. Xxxxx Xxxxx
Its: Chairman of the Board and President
Accepted and Agreed to this 30th day of April, 1996.
CIGNA INVESTMENTS, INC.
By: /s/ Xxxxxx X. Xxxxx, III
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By: Xxxxxx X. Xxxxx, III
Its: President
