5th AMENDMENT TO SUB-ADVISORY AGREEMENT

5^th AMENDMENT TO

SUB-ADVISORY AGREEMENT

THIS 5^th AMENDMENT TO THE SUB-ADVISORY AGREEMENT, effective as of the 1^st day of January, 2023 (this “Amendment”) is between Lincoln Investment Advisors Corporation, a Tennessee corporation (“LIAC”) and Massachusetts Financial Services Company (“MFS”), a Delaware corporation.

Recitals

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

2. XXXX has contracted with MFS to serve as sub-adviser to the LVIP MFS Value Fund (the “Fund”), a series of the Trust, pursuant to a Sub-Advisory Agreement dated April 30, 2007, as amended July 1, 2008, December 8, 2010, October 1, 2015, and January 1, 2022 (the “Agreement”);

3. MFS 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.

Representations

1. MFS 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, MFS 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 MFS.

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 a WebEx videoconferencing, in accordance with Investment Company Act Release No. 33897 (June 19, 2020), held December 6-7, 2022.

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 January 1, 2023, to reflect a reduction in the sub-advisory fee for the Fund paid by LIAC to MFS.

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.

LVIP MFS Value Fund

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

LINCOLN INVESTMENT ADVISORS CORPORATION						MASSACHUSETTS FINANCIAL SERVICES COMPANY
By: /s/ Xxxxxxxx Xxxxxx						By: /s/Xxxxx Xxxxxxx
Name: Xxxxxxxx Xxxxxx						Name: Xxxxx Xxxxxxx
Title: SVP, Head of Funds Management						Title: President

LVIP MFS Value Fund

SCHEDULE A

Fee Schedule

The Adviser shall pay to the Sub-Adviser compensation at an annual rate as follows:

Name of Fund		Annual Fee as a Percentage of Average Daily Net Assets
LVIP MFS Value Fund		REDACTED

LVIP MFS Value Fund