Exhibit 23(d)(1)(h)
April 30, 2009
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP Global Income Fund
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the LVIP Global Income Fund (the "Fund"), a series of Lincoln Variable
Insurance Products Trust (the "Trust"), and Lincoln Investment Advisors
Corporation (the "Adviser") with respect to the portfolio management of the
LVIP Global Income Fund.
1. Advisory Expense Waiver. The Adviser has agreed to waive a portion of
the advisory fee payable to the Adviser under the Investment Management
Agreement, dated as of April 30, 2007 ("Investment Management
Agreement"), as amended, between the Fund and the Adviser, as set forth
in the attached Schedule A.
2. Term and Termination. This Agreement shall become effective on April 30,
2009 and shall continue for an initial term ending April 30, 2010. The
Agreement shall renew automatically for one-year terms unless the Trust
or the Adviser provides written notice of the termination of the
Agreement within 30 days of the end of the then current term. In
addition, this Agreement will terminate automatically in the event of
the termination of the Investment Management Agreement or the
termination of either of the Sub-Advisory Agreements, each dated
April 30, 2009 between the Adviser and (a) Xxxxxxxxx Investment Counsel,
LLC. and/or b) Mondrian Investment Partners Limited.
3. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Delaware, provided that
nothing in this Agreement shall be construed in a manner inconsistent
with the Investment Company Act of 1940, as amended, or the Investment
Advisers Act of 1940, as amended.
LVIP Global Income Fund 656601/1
Please indicate your approval of this Agreement by signing and returning a copy
of this letter to the Fund.
Very truly yours,
LVIP Global Income Fund, a series of
Lincoln Variable Insurance Products Trust
-------------------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Chief Accounting Officer
and Second Vice President
Agreed to:
LINCOLN INVESTMENT ADVISORS CORPORATION
-------------------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Second Vice President
453079/
Schedule A
Avg. Daily Net Assets of the Fund Waiver Amount*
--------------------------------- --------------
All Assets of the Fund 0.05%
* These amounts are stated on an annual basis.
453079/
