Exhibit (h)(9)
[First Tennessee Bank Letterhead]
March 6, 2003
Mr. X. Xxxxxx Xxxxxxxxx
Chairman
Financial Investors Variable Insurance Trust
0000 Xxxxxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Re: Financial Investors Variable Insurance Trust (the "Trust")
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Dear Xx. Xxxxxxxxx:
By our execution of this letter agreement (the "Agreement"), First Tennessee
Bank, N.A. ("FTB") agrees that in order to improve the performance of the
Trust's Growth & Income Portfolio and Capital Appreciation Portfolio (the
"Portfolios"), FTB agrees to reimburse Portfolio expenses and/or 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 Growth & Income Portfolio
and Capital Appreciation Portfolio to maintain a total annual expense ratio of
not more than 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 waivers for the Portfolio were effective as of January
1, 2003 and shall continue at least through the end of the fiscal year (December
31, 2003).
FIRST TENNESSEE BANK, N.A.
By:
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Title:
Your signature below acknowledges
Acceptance of this Agreement:
By:
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Title: Secretary
Financial Investors Variable Insurance Trust
