Exhibit 28(d)(1)(b)
Form of
[DATE]
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP Dimensional U.S. Equity Fund, LVIP
Dimensional Non-U.S. Equity Fund, LVIP Total Bond Fund, LVIP Vanguard
Domestic Equity ETF Fund, LVIP Vanguard International Equity ETF Fund
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the LVIP Dimensional U.S. Equity Fund, LVIP Dimensional Non-U.S. Equity
Fund, LVIP Vanguard Domestic Equity ETF Fund, LVIP Vanguard International
Equity ETF Fund, and LVIP Total Bond Fund, (the "Funds"), each 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 Funds.
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"), between the Funds and the Adviser, as set forth in the
attached Schedule A.
2. Term and Termination. This Agreement shall become effective on April 30,
2011 and shall continue for an initial term ending April 30, 2012. The
Agreement shall renew automatically for one-year terms unless the Trust
or the Adviser provides written notice of the termination of the
Agreement at least 10 days prior to the end of the then current term.
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.
Please indicate your approval of this Agreement by signing and returning a copy
of this letter to the Funds.
Sincerely,
LVIP Dimensional U.S. Equity Fund
LVIP Dimensional Non-U.S. Equity Fund
LVIP Vanguard Domestic Equity ETF Fund
LVIP Vanguard International Equity ETF Fund
LVIP Total Bond Fund,
each a series of Lincoln Variable Insurance Products Trust
_____________________________________________
Name:
Title:
Agreed to:
LINCOLN INVESTMENT ADVISORS CORPORATION
_____________________________________________
Name:
Title:
Schedule A
Avg. Daily Net Assets of the Funds Waiver Amount*
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All Assets of the Funds
* These amounts are stated on an annual basis.
