AMENDMENT TO SCHEDULE A AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
EX-28(h)(3)(a)
AMENDMENT TO
SCHEDULE A
AMENDED AND RESTATED
THIS AMENDED SCHEDULE A lists the Funds and the Expense Limitation Amounts which are established pursuant to the Amended and Restated Expense Limitation Agreement dated April 26, 2019.
| LVIP FUND NAME |
STANDARD EXPENSE LIMIT |
SERVICE CLASS EXPENSE LIMIT |
EFFECTIVE DATE |
TERMINATION DATE | ||||
| Lincoln iShares® Fixed Income Allocation Fund | 0.15% | N/A | May 1, 2021 | April 30, 2022 | ||||
| Lincoln iShares® Global Growth Allocation Fund | 0.20% | N/A | May 1, 2021 | April 30, 2022 | ||||
| Lincoln iShares® U.S. Moderate Allocation Fund | 0.19% | N/A | May 1, 2021 | April 30, 2022 | ||||
| Lincoln Nasdaq-100 Buffer Fund Jun | 0.62% | 0.97% | June 18, 2021 | June 17, 2022 | ||||
| Lincoln Nasdaq-100 Buffer Fund Sep | 0.62% | 0.97% | September 17, 2021 | September 16, 2022 | ||||
| Lincoln Nasdaq-100 Buffer Fund Dec | 0.62% | 0.97% | December 17, 2021 | December 16, 2022 | ||||
| Lincoln Nasdaq-100 Buffer Fund Mar | 0.62% | 0.97% | March 18, 2022 | March 17, 2023 | ||||
| Xxxxxxx S&P 500 Buffer Fund May | 0.58% | 0.93% | May 21, 2021 | May 20, 2022 | ||||
| Xxxxxxx S&P 500 Ultra Buffer Fund May | 0.58% | 0.93% | May 21, 2021 | May 20, 2022 | ||||
| Xxxxxxx S&P 500 Buffer Fund Aug | 0.58% | 0.93% | August 20, 2021 | August 19, 2022 | ||||
| Xxxxxxx S&P 500 Ultra Buffer Fund Aug | 0.58% | 0.93% | August 20, 2021 | August 19, 2022 | ||||
| Lincoln S&P 500 Buffer Fund Nov | 0.58% | 0.93% | November 19, 2021 | November 18, 2022 | ||||
| Lincoln S&P 500 Ultra Buffer Fund Nov | 0.58% | 0.93% | November 19, 2021 | November 18, 2022 | ||||
| Lincoln S&P 500 Buffer Fund Feb | 0.58% | 0.93% | February 18, 2022 | February 17, 2023 | ||||
| Lincoln S&P 500 Ultra Buffer Fund Feb | 0.58% | 0.93% | February 18, 2022 | February 17, 2023 | ||||
| LVIP American Century Select Mid Cap Value Managed Volatility Fund | 0.895% | 1.245% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Baron Growth Opportunities Fund | 0.93% | 1.18% | May 1, 2021 | April 30, 2022 | ||||
| LVIP BlackRock Advantage Allocation Fund | 0.73% | 0.98% | May 1, 2021 | April 30, 2022 |
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EX-28(h)(3)(a)
| LVIP FUND NAME |
STANDARD EXPENSE LIMIT |
SERVICE CLASS EXPENSE LIMIT |
EFFECTIVE DATE |
TERMINATION DATE | ||||
| LVIP BlackRock Dividend Value Managed Volatility Fund1 | 0.675% | 0.925% | May 1, 2021 | April 30. 2022 | ||||
| LVIP BlackRock Global Allocation Fund | 0.73% | 0.98% | May 1, 2021 | April 30, 2022 | ||||
| LVIP ClearBridge Franklin Select Large Cap Managed Volatility Fund2 | 0.675% | 1.025% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Delaware Wealth Builder Fund | 0.71% | 0.96% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Delaware U.S. Growth Fund3 | 0.73% | 1.03% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Delaware Value Fund4 | 0.69% | 0.99% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Delaware Diversified Income Fund5 | 0.54% | 0.84% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Delaware Limited-Term Diversified Income Fund6 | 0.53% | 0.83% | May 1, 2021 | April 30, 2023 |
1 Effective upon the reorganization of the LVIP Franklin Xxxxxxxxx Value Managed Volatility Fund into LVIP BlackRock Dividend Managed Volatility Fund (the “Fund”) on November 22, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.68% (for Standard class) and 0.93% (for Service class) until at least November 22, 2021. After November 22, 2021, LIAC may amend this expense limit only with the Board’s consent. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.675% (for Standard class) and 0.925% (for Service Class) until at least November 22,2021.
2 Effective upon the reorganization of the LVIP ClearBridge Large Cap Managed Volatility Fund into LVIP ClearBridge QS Select Large Cap Managed Volatility Fund (the “Fund”) on May 24, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.68% (for Standard class) and 1.03% (for Service class) until at least May 25, 2021. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.675% (for Standard class) and 1.025% (for Service class) until at least May 25, 2021.
3 Effective upon the adoption of the Delaware VIP U.S. Growth Series into the LVIP Delaware U.S. Growth Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.73% (for Standard class) and 1.03% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
4 Effective upon the adoption of the Delaware VIP Large Cap Value Series into the LVIP Delaware Value Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.69% (for Standard class) and 0.99% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
5 Effective upon the adoption of the Delaware VIP Diversified Income Series into the LVIP Delaware Diversified Income Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.54% (for Standard class) and 0.84% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
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EX-28(h)(3)(a)
| LVIP FUND NAME |
STANDARD EXPENSE LIMIT |
SERVICE CLASS EXPENSE LIMIT |
EFFECTIVE DATE |
TERMINATION DATE | ||||
| LVIP Delaware XXXX Cap Core Fund7 | 0.80% | 1.10% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Delaware High Yield Fund8 | 0.74% | 1.04% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Delaware REIT Fund9 | 0.83% | 1.13% | May 1, 2021 | April 30, 2023 | ||||
| LVIP Dimensional International Core Equity Fund | 0.62% | 0.87% | April 1, 2021 | April 30, 2022 | ||||
| LVIP Franklin Xxxxxxxxx Multi-Asset Opportunities Fund | 0.42% | 0.67% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Fidelity Institutional AM® Select Core Equity Managed Volatility Fund | 0.095% | 0.445% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Global Aggressive Growth Allocation Managed Risk Fund | 0.325% | 0.575% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Invesco Select Equity Income Managed Volatility Fund10 | 0.565% | 0.915% | May 1, 2021 | April 30, 2022 |
6 Effective upon the adoption of the Delaware VIP Diversified Long-Term Income Series into the LVIP Delaware Diversified Long-Term Income Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.53% (for Standard class) and 0.83% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
7 Effective upon the adoption of the Delaware VIP Xxxx Cap Core Series into the LVIP Delaware XXXX Cap Core Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.80% (for Standard class) and 1.10% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
8 Effective upon the adoption of the Delaware VIP High Yield Series into the LVIP Delaware High Yield Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.74% (for Standard class) and 1.04% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
9 Effective upon the adoption of the Delaware VIP REIT Series into the LVIP Delaware REIT Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.83% (for Standard class) and 1.13% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.
10 Effective upon the reorganization of the Invesco Diversified Equity-Income Managed Volatility Fund into the LVIP Invesco Select Equity Income Managed Volatility Fund (the “Fund”) on May 24, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.57% (for Standard class) and 0.92% (for Service class) until May 24, 2021. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.565% (for Standard class) and 0.915% (for Service class) until at least May 24, 2021. After May 24, 2021, LIAC may amend this expense limit only with the Board’s consent.
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EX-28(h)(3)(a)
| LVIP FUND NAME |
STANDARD EXPENSE LIMIT |
SERVICE CLASS EXPENSE LIMIT |
EFFECTIVE DATE |
TERMINATION DATE | ||||
| LVIP JPMorgan Retirement Income Fund | 0.523% | 0.773% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Xxxxxx Xxxxxx Global Growth Fund | 0.77% | 1.12% | May 1, 2021 | April 30, 2022 | ||||
| LVIP MFS International Equity Managed Volatility Fund | 0.135% | 0.385% | May 1, 2021 | April 30, 2022 | ||||
| LVIP Multi-Manager Global Equity Managed Volatility Fund | 0.21% | 0.56% | May 1, 2021 | April 30, 2022 | ||||
| LVIP PIMCO Low Duration Bond Fund | 0.54% | 0.79% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA Conservative Index Allocation Fund | 0.20% | 0.45% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA Emerging Markets Equity Index Fund | 0.50% | 0.75% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA International Index Fund | 0.39% | 0.64% | April 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA International Managed Volatility Fund | 0.245% | 0.495% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA Large Cap Managed Volatility Fund | 0.245% | 0.495% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA Short-Term Bond Index Fund | 0.3625% | 0.6125% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA Nasdaq-100 Index Fund | 0.45% | 0.70% | May 1, 2021 | April 30, 2022 | ||||
| LVIP SSGA XXXX Cap Managed Volatility Fund | 0.245% | 0.495% | May 1, 2021 | April 30, 2022 | ||||
| XXXX X. Xxxx Price 2010 Fund | 0.27% | 0.52% | May 1, 2021 | April 30, 2022 | ||||
| LVIP X. Xxxx Price 2020 Fund | 0.24% | 0.49% | May 1, 2021 | April 30, 2022 | ||||
| LVIP X. Xxxx Price 2030 Fund | 0.25% | 0.50% | May 1, 2021 | April 30, 2022 | ||||
| LVIP X. Xxxx Price 2040 Fund | 0.26% | 0.51% | May 1, 2021 | April 30, 2022 | ||||
| LVIP X. Xxxx Price 2050 Fund | 0.27% | 0.52% | May 1, 2021 | April 30, 2022 | ||||
| LVIP X. Xxxx Price 2060 Fund | 0.27% | 0.52% | May 1, 2021 | April 30, 2022 | ||||
| LVIP U.S. Aggressive Growth Allocation Managed Risk Fund | 0.315% | 0.565% | May 1, 2021 | April 30, 2022 |
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EX-28(h)(3)(a)
| LVIP FUND NAME |
STANDARD EXPENSE LIMIT |
SERVICE CLASS EXPENSE LIMIT |
EFFECTIVE DATE |
TERMINATION DATE | ||||
| MASTER-FEEDER FUNDS | ||||||||
| LVIP American Global Small Capitalization Fund |
0.10% 11 Service II Class |
N/A | May 1, 2021 | April 30, 2022 |
11 Applies only to “Other Expenses” as such term is used in the Fund’s prospectus.
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EX-28(h)(3)(a)
The parties hereto have caused this SCHEDULE A to be signed by their duly authorized officers as of June 23, 2021 and effective in accordance with the dates noted above.
| LINCOLN INVESTMENT ADVISORS CORPORATION | LINCOLN VARIABLE INSURANCE PRODUCTS TRUST, on behalf of each of its Funds listed on Schedule A | |||||||
| By: | /s/ Xxxxxx X. Xxxxxxxxxx | By: | /s/ Xxxxxxx X. Xxxxx, Xx. | |||||
| Name: | Xxxxxx X. Xxxxxxxxxx | Name: | Xxxxxxx X. Xxxxx, Xx. | |||||
| Title: | President | Title: | Vice President & Chief Accounting Officer | |||||
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