EXHIBIT (d)(1)(B)
AMENDMENT TO THE MANAGEMENT AGREEMENT
BETWEEN LSA VARIABLE SERIES TRUST AND LSA ASSET MANAGEMENT LLC
This Amendment to the Management Agreement is dated as of May 30, 2001, and
amends the Management Agreement (the "Management Agreement") dated as of October
1, 1999, made by and between LSA Variable Series Trust, a Delaware business
trust (the "Trust") and LSA Asset Management LLC, a Delaware limited liability
company (the "Manager").
WHEREAS, the Manager acts as investment adviser to the Trust pursuant to the
Management Agreement; and
WHEREAS, the Trust's Board of Trustees has approved adding six additional series
to the Trust, to be designated the Aggressive Growth Fund, Diversified Mid-Cap
Fund, Capital Appreciation Fund, Basic Value Fund, Mid Cap Value Fund and Blue
Chip Fund (the "New Funds");
NOW, THEREFORE, Schedule 1 to the Management Agreement is hereby amended,
effective as of May 30, 2001, to read as set forth in Exhibit A to this
Amendment, the sole changes in such Schedule being the addition of the New
Funds.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and
delivered in their names and on their behalf as of the day and year first above
written.
LSA VARIABLE SERIES TRUST LSA ASSET MANAGEMENT LLC
By:___________________ By:______________________
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Name Name
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Title Title
EXHIBIT A
Schedule I, as revised on May 30, 2001
Pursuant to Article 4, each Fund shall pay LSA Asset Management LLC compensation
as follows:
1. Focused Equity Fund: 0.95% of the current net assets of the Fund.
2. Growth Equity Fund: 0.85% of the current net assets of the Fund.
3. Disciplined Equity Fund: 0.75% of the current net assets of the Fund.
4. Value Equity Fund: 0.80% of the current net assets of the Fund.
5. Balanced Fund: 0.80% of the current net assets of the Fund.
6. Emerging Growth Domestic Equity Fund: 1.05% of the current net assets
of the Fund.
7. Aggressive Growth Fund: 0.95% of the current net assets of the Fund.
8. Capital Appreciation Fund: 0.90% of the current net assets of the Fund.
9. Diversified Mid-Cap Fund: 0.90% of the current net assets of the Fund.
10. Mid Cap Value Fund: 0.85% of the current net assets of the Fund.
11. Basic Value Fund: 0.90% of the current net assets of the Fund.
12. Blue Chip Fund: 0.90% of the current net assets of the Fund.
The Percentage Fee for each Fund shall be accrued for each calendar day
and the sum of the daily fee accruals shall be payable monthly to the Manager.
The daily fee accruals will be computed by multiplying the fraction of one over
the number of calendar days in the year by the applicable annual rate described
in the preceding paragraph, and multiplying this product by the net assets of
the Fund as determined in accordance with the Trust's prospectus and statement
of additional information as of the close of business on the previous business
day on which the Trust was open for business.
If this Agreement becomes effective or terminates before the end of any
month, the fee for the period from the effective date to the end of such month
or from the beginning of such month to the date of termination, as the case may
be, shall be prorated according to the proportion which such period bears to the
full month in which such effectiveness or termination occurs.