EXHIBIT 5(C)
AMENDMENT TO INVESTMENT ADVISORY MANAGEMENT SERVICES AGREEMENT
INVESTMENT ADVISORY AND MANAGEMENT
SERVICES AGREEMENT
FBL VARIABLE INSURANCE SERIES FUND
AMENDMENT TO MANAGEMENT FEE SCHEDULE
EFFECTIVE MAY 1, 1997
Amendment effective May 1, 1997 to the Investment Advisory and Management
Services Agreement dated April 6, 1987 between FBL Variable Insurance Series
Fund and FBL Investment Advisory Services, Inc. ("FBLIAS"). Pursuant to a
resolution adopted by the Board of Trustees on November 7, 1996, FBLIAS
wishes to reduce the management fee rate for the Value Growth, High Yield
Bond, Managed and Money Market Portfolios of the Fund.
The fee schedule in paragraph 7 is hereby amended to reflect the reduction in
management fees as follows:
AVERAGE DAILY NET ASSETS
FIRST SECOND OVER
$200 $200 $400
PORTFOLIO MILLION MILLION MILLION
--------- ------- ------- -------
Managed 0.45% 0.45% 0.45%
Value Growth 0.45% 0.45% 0.40%
High Yield Bond 0.45% 0.45% 0.40%
High Grade Bond 0.30% 0.275% 0.25%
Money Market 0.25% 0.25% 0.25%
Blue Chip 0.20% 0.20% 0.20%
The parties hereto have caused this amendment to be executed and delivered
by the persons designated below on November 7, 1996 to become effective as of
the day and year first written above.
FBL INVESTMENT ADVISORY FBL VARIABLE INSURANCE
SERVICES, INC. SERIES FUND
By: /s/ Xxxxxxx X. Warming By: /s/ Xxxxxx X. Xxxxxxxxxxx
--------------------------- ---------------------------
President President
Attest: /s/ Xxxxxx X. Xxxxxx Attest: /s/ Xxxxxxx X. Xxxxxx
----------------------- -----------------------
Secretary Secretary
