AMENDMENT (EFFECTIVE JANUARY 1, 1998) TO THE SUB-ADVISORY AGREEMENT (EFFECTIVE DATE DECEMBER 20, 1993) BETWEEN LINCOLN INVESTMENT MANAGEMENT, INC. (FORMERLY: LINCOLN NATIONAL INVESTMENT MANAGEMENT COMPANY) AND FIDELITY MANAGEMENT TRUST COMPANY...

                                                                    EXHIBIT 5(d)


                                      AMENDMENT
                             (EFFECTIVE JANUARY 1, 1998)
                                        TO THE
                                SUB-ADVISORY AGREEMENT
                          (EFFECTIVE DATE DECEMBER 20, 1993)
                                       BETWEEN
                         LINCOLN INVESTMENT MANAGEMENT, INC.
             (FORMERLY: LINCOLN NATIONAL INVESTMENT MANAGEMENT COMPANY) 
                                         AND
                          FIDELITY MANAGEMENT TRUST COMPANY


     Paragraph 3 of the Agreement relating to Compensation to be paid by The
Advisor to the Sub-Adviser is hereby amended to substitute the following
sentence for the first sentence of the paragraph:

          "The Adviser will pay to the Sub-Adviser as compensation for the
     Sub-Adviser's services rendered and for the expenses borne by the
     Sub-Adviser pursuant to Section 1, a fee, computed and paid at the annual
     rate of: .48 of 1% of the average daily net assets of the Fund."


                              LINCOLN INVESTMENT MANAGEMENT
                                   COMPANY

                              By:                                           
                                  -------------------------------------------
                                   H.  Xxxxxx XxXxxxxx



                              FIDELITY MANAGEMENT TRUST COMPANY


                              By:                                         
                                  -----------------------------------------
                                   Xxxx X.  X'Xxxxxx, Xx.