AMENDMENT NO. 2 TO
EXHIBIT A
OF THE INVESTMENT MANAGEMENT AGREEMENT
THIS EXHIBIT to the Investment Management Agreement dated December 15,
1999 (the "Agreement") between DELAWARE VIP TRUST and DELAWARE MANAGEMENT
COMPANY, a series of Delaware Management Business Trust (the "Investment
Manager"), amended as of the ___ day of May, 2003 to add Delaware VIP
Diversified Income Series, lists the Series for which the Investment Manager
provides investment management services pursuant to this Agreement, along with
the management fee rate schedule for each Series and the date on which the
Agreement became effective for each Series.
--------------------------------------------------------------------------------------------------------------------------------
Management Fee Schedule
(as a percentage of
average daily net assets)
Series Name Effective Date Annual Rate
----------- -------------- -----------
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Balanced Series December 15, 1999 0.65% on first $500 million
0.60% on next $500 million
0.55% on next $500 million
0.50% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Capital Reserves Series December 15, 1999 0.50% on first $500 million
0.475% on next $500 million
0.45% on next $500 million
0.425% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Cash Reserve Series December 15, 1999 0.45% on first $500 million
0.40% on next $500 million
0.35% on next $500 million
0.30% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Diversified Income Series May __, 2003 0.65% on first $500 million
0.60% on next $500 million
0.55% on next $500 million
0.50% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Growth and Income Series December 15, 1999 0.65% on first $500 million
0.60% on next $500 million
0.55% on next $500 million
0.50% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Growth Opportunities Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP High Yield Series December 15, 1999 0.65% on first $500 million
0.60% on next $500 million
0.55% on next $500 million
0.50% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP REIT Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Select Growth Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $1,500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Small Cap Value Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Social Awareness Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP Trend Series December 15, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $500 million
0.60% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
Delaware VIP U.S. Growth Series December 15, 1999 0.65% on the first $500 million
0.60% on the next $500 million
0.55% on the next $1,500 million
0.50% on assets in excess of $2,500 million
--------------------------------------------------------------------------------------------------------------------------------
DELAWARE MANAGEMENT COMPANY, DELAWARE VIP TRUST
a series of Delaware Management Business Trust
By: By:
-------------------------------------------- -------------------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx X. Xxxxxx
Title: President Title: President/Chief Executive Officer/
Chief Financial Officer
Attest: Attest:
-------------------------------------------- -------------------------------------------
Name: Name:
-------------------------------------------- -------------------------------------------
Title: Title:
-------------------------------------------- -------------------------------------------
2
