Exhibit 99(h)(11)
FIRST TENNESSE (logo)
ALL THINGS FINANCIAL
Mr. X. Xxxxxx Xxxxxxxxx
Chairman
Financial Investors Variable Trust
0000 Xxxxxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Re: Financial Investors Variable Insurance Trust (the "Trust")
Dear Xx. Xxxxxxxxx:
This letter confirms, First Tennessee Bank National Association's ("FTB")
agreement with the Trust to waive certain fees it is entitled to receive from
the Trust's Core Equity Portfolio and Capital Appreciation Portfolio (the
"Portfolios"). FTB agrees to reimburse Portfolio expenses and waive a portion of
its investment advisory fees and/or co-administration fees that it is entitled
to receive, to the extent necessary for the Core Equity Portfolio and the
Capital Appreciation Portfolios to maintain a total annual expense ration of not
more that 1.10% and 1.30%, respectively.
FTB acknowledges that it will not be entitled to collect on or make a claim for
waived fees at any time in the future. FTB agrees that such expense
reimbursements and/or fee waiver for the Portfolios were effective as January 1,
2004 and shale continue at least through the end of the fiscal year (December
31, 2004).
FIRST TENNESSE BANK ASSOCIATION
By:
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Title: S.V.P. & Manager Wealth Management
Product Development & Support
Your signature below acknowledges
Acceptance of this Agreement:
By:
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Title Secretary
Financial Investors Variable Insurance Trust
