1st AMENDMENT TO SUB-ADVISORY AGREEMENT
EX-(d)(4)(mm)(i)
1st AMENDMENT TO
SUB-ADVISORY AGREEMENT
THIS 1st AMENDMENT TO THE SUB-ADVISORY AGREEMENT, made this 1st day of October, 2015 (the “Amendment”), is between Lincoln Investment Advisors Corporation, a Tennessee corporation (“LIAC”) and Xxxxxxxxx Investment Counsel, LLC (“Templeton”), a Florida limited liability company.
Recitals
1. LIAC currently serves as investment adviser to the Lincoln Variable Insurance Products Trust (the “Trust”);
2. LIAC has contracted with Xxxxxxxxx to serve as sub-adviser to the LVIP Xxxxxxxxx Growth Managed Volatility Fund (the “Fund”), a series of the Trust, pursuant to a Sub-Advisory Agreement dated September 21, 2012 (the “Agreement”);
3. Xxxxxxxxx and LIAC have agreed to reduce the sub-advisory fee on the Fund and desire to amend the fee schedule (“Schedule A”) to the Agreement to reflect both the reduced fee rate as well as the current name of the Fund.
Representations
1. Xxxxxxxxx represents that it will not reduce the quality or quantity of its services to the Fund under the Agreement as a result of the reduced fee schedule contained in this Amendment; however, Xxxxxxxxx makes no representation or warranty, express or implied, that any level of performance or investment results will be achieved by the Fund or that the Fund will perform comparably with any standard or index, including other clients of Xxxxxxxxx.
2. LIAC represents and warrants that: (i) it will not reduce the quality or quantity of its services to the Fund under the Agreement as a result of the reduced fee schedule contained in this Amendment; and (ii) approval of this revised fee schedule has been obtained from the Trust’s Board of Trustees at an in-person meeting held September 14 and 15, 2015.
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 hereof.
2. The Representations made herein are incorporated and made a part hereof.
3. Schedule A shall be deleted and replaced with the attached amended Schedule A effective October 1, 2015, to reflect a reduction in the sub-advisory fee for the Fund paid by LIAC to Xxxxxxxxx.
4. All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.
5. This Amendment may be executed in two or more counterparts which together shall constitute one instrument.
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 | XXXXXXXXX INVESTMENT COUNSEL, LLC | |||||||||
| By: Name: Title: |
/s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx President |
By: Name: Title: |
/s/ Xxxxx X. Xxxx Xxxxx X. Xxxx Executive Vice President, | |||||||
| Xxxxxxxxx Global Equity Group | ||||||||||
2
SCHEDULE A
INVESTMENT SUBADVISORY FEES
The Adviser shall pay to the Sub-Adviser compensation for services rendered to the Managed Portion at an annual rate as follows:
| Name of Fund | Annual fee as a percentage of average daily net assets of the Managed Portion | |
|
LVIP Xxxxxxxxx Growth Managed Volatility Fund |
REDACTED | |
3
