AMENDMENT DATED MAY 1, 1997
TO
INVESTMENT ADVISORY AGREEMENT
BETWEEN
COVA SERIES TRUST
AND
COVA INVESTMENT ADVISORY CORPORATION
WHEREAS, pursuant to Section 1(a) of the Investment Advisory Agreement by
and between COVA SERIES TRUST (the "Trust"), formerly VAN XXXXXX XXXXXXX
SERIES TRUST, and COVA INVESTMENT ADVISORY CORPORATION (the "Advisor") dated
May 1, 1996 (the "Advisory Agreement"), the Trust seeks to employ the Advisor
to act as investment advisor for eight additional Sub-Trusts;
NOW THEREFORE, said Advisory Agreement is hereby amended with the
addition of the following Sub-Trusts to Section 1(a):
Mid-Cap Value Portfolio
Large Cap Research Portfolio
Developing Growth Portfolio
Lord Xxxxxx Growth and Income Portfolio
Balanced Portfolio
Small Cap Equity Portfolio
Equity Income Portfolio
Growth & Income Equity Portfolio.
In addition the following Fee Schedules are added as Exhibits to the Advisory
Agreement pursuant to Section 2(a):
EXHIBIT N
COVA SERIES TRUST
MID-CAP VALUE PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Mid-Cap Value Portfolio shall pay to the
Advisor at the end of each calendar month an investment management fee of
1.00% of the average daily net assets of the Mid-Cap Value Portfolio.
EXHIBIT O
COVA SERIES TRUST
LARGE CAP RESEARCH PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Large Cap Research Portfolio shall pay to
the Advisor at the end of each calendar month an investment management fee of
1.00% of the average daily net assets of the Large Cap Research Portfolio.
EXHIBIT P
COVA SERIES TRUST
DEVELOPING GROWTH PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Developing Growth Portfolio shall pay to
the Advisor at the end of each calendar month an investment management fee of
.90% of the average daily net assets of the Developing Growth Portfolio.
EXHIBIT Q
COVA SERIES TRUST
LORD XXXXXX GROWTH AND INCOME PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Lord Xxxxxx Growth and Income Portfolio
shall pay to the Advisor at the end of each calendar month an investment
management fee of .75% of the average daily net assets of the Lord Xxxxxx
Growth and Income Portfolio.
EXHIBIT R
COVA SERIES TRUST
BALANCED PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Balanced Portfolio shall pay to the Advisor
at the end of each calendar month an investment management fee of 1.00% of the
average daily net assets of the Balanced Portfolio.
EXHIBIT S
COVA SERIES TRUST
SMALL CAP EQUITY PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Small Cap Equity Portfolio shall pay to the
Advisor at the end of each calendar month an investment management fee of
1.00% of the average daily net assets of the Small Cap Equity Portfolio.
EXHIBIT T
COVA SERIES TRUST
EQUITY INCOME PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Equity Income Portfolio shall pay to the
Advisor at the end of each calendar month an investment management fee of
1.00% of the average daily net assets of the Equity Income Portfolio.
EXHIBIT U
COVA SERIES TRUST
GROWTH & INCOME EQUITY PORTFOLIO
In accordance with Section 2(a) of the Investment Advisory Agreement
dated May 1, 1996, as amended, the Growth & Income Equity Portfolio shall pay
to the Advisor at the end of each calendar month an investment management fee
of 1.00% of the average daily net assets of the Growth & Income Equity
Portfolio.
IN WITNESS WHEREOF, the Trust and the Advisor have caused this Amendment
to be executed on the day and year first above written.
COVA INVESTMENT COVA SERIES TRUST
ADVISORY CORPORATION
By:______________________________ By:___________________________
Its:______________________________ Its:___________________________
