12B-1 PLAN IMPLEMENTING AGREEMENT
Liberty Variable Investment Trust, a Massachusetts business trust (the
Trust), and Liberty Funds Distributor, Inc., (LFDI) a Massachusetts
corporation, agree effective June 1, 1999:
1. 12B-1 PLAN. The Trust, on behalf of its Funds, has adopted a so-called
"Rule 12b-1 Plan" (the "Plan") pursuant to Rule 12b-1 (the "Rule") under the
Investment Company Act of 1940 (the "Act"). Under the Rule, a Fund may, pursuant
to a Plan, pay LFDI a specified portion of its assets to be used for the
purposes specified in its Plan. A Plan shall continue in effect with respect to
a Fund only so long as specifically approved for that Fund at least annually as
provided in the Rule. A Plan may not be amended to increase materially any
service fee or distribution fee with respect to a Fund without such shareholder
approval as is required by the Rule or any applicable orders of the Securities
and Exchange Commission, and all material amendments of the Plan must be
approved in the manner described in the Rule. A Plan may be terminated with
respect to a Fund at any time as provided in the Rule without payment of any
penalty.
This Agreement shall apply to each Fund named in Appendix 1 as that
Appendix may be amended from time to time by the parties, in writing.
2. PAYMENTS, EXPENDITURES AND REPORTS.
A. Each Fund shall pay LFDI the amount then due LFDI under a Plan on
the 20th day of each month, or, if such day is not a business day, the next
business day thereafter, during the term of this Agreement.
B. LFDI shall expend the amounts paid to it by the Funds under a Plan
in its discretion, so long as such expenditures are consistent with the Rule,
the Plan, and any instructions LFDI may receive from the Trustees of the Trust.
C. LFDI shall make all reports required under the Act, the Rule or a
Plan to the Trustees of the Trusts, as provided in the Act, the Rule and any
Plan or as requested by the Trustees. If a participating insurance company (as
defined in the Plan) is an "affiliate" of LFDI (as that term is defined in the
Act), LFDI shall obtain comparable information from that participating company
and provide such information to the Trustees.
3. CONTINUATION; AMENDMENT; TERMINATION; NOTICE.
A. This Agreement (i) supersedes and replaces any contract or agreement
relating to the subject matter hereof in effect prior to the date hereof, (ii)
shall continue in effect as to the Trust or any Fund only so long as
specifically approved at least annually by the Trustees or shareholders of the
Trust or Fund and (iii) may be amended at any time by written agreement of the
parties, each in accordance with the Act and the Rule.
B. This Agreement (i) shall terminate immediately upon the effective
date of any later dated agreement relating to the subject matter hereof, and
(ii) may be terminated upon 60 days' notice without penalty by a vote of the
Trustees or by LFDI or otherwise in accordance with the Act, and (iii) will
terminate immediately in the event of its assignment (as defined in the Act).
Upon termination the obligations of the parties under this Agreement shall cease
except for unfulfilled obligations and liabilities arising prior to termination.
C. All notices required under this Agreement shall be in writing and
delivered to the office of the other party.
4. AGREEMENT AND DECLARATION OF TRUST. A copy of the document establishing
the Trust is filed with the Secretary of The Commonwealth of Massachusetts. As
to the Trust this Agreement is executed by officers not as individuals and is
not binding upon any of the Trustees, officers or shareholders of the Trust
individually but only upon the assets of the relevant Fund.
Agreed:
LIBERTY VARIABLE INVESTMENT TRUST
By:
Xxxxx X. Xxxxxx, Secretary
LIBERTY FUNDS DISTRIBUTOR, INC.
By:
President
APPENDIX 1
Liberty Variable Investment Trust
Colonial International Horizons Fund, Variable Series
Colonial Global Equity Fund, Variable Series
Crabbe Huson Real Estate Investment Fund, Variable Series
Liberty Variable Investment Trust
By: Xxxxx X. Xxxxxx, Secretary
LIBERTY FUNDS DISTRIBUTOR, INC.
By: President
Dated: June 1, 1999
