1st AMENDMENT TO SUB-ADVISORY AGREEMENT
1st AMENDMENT TO
SUB-ADVISORY AGREEMENT
THIS 1st AMENDMENT TO THE SUB-ADVISORY AGREEMENT, made this 1st day of October, 2023 (the “Amendment”), is between Lincoln Investment Advisors Corporation, a Tennessee corporation (“LIAC”) and BlackRock Advisors, LLC (“BlackRock”), a Delaware corporation.
Recitals
WHEREAS, XXXX currently serves as investment adviser to the Lincoln Variable Insurance Products Trust (the “Trust”);
WHEREAS, BlackRock currently serves as sub-adviser to each of the series of the Trust noted in Schedule A hereto (each, a “Fund” and collectively, the “Funds”) pursuant to a written subadvisory agreement dated March 21, 2016 between LIAC and BlackRock (the “Agreement”);
WHEREAS, BlackRock and LIAC desire to amend the fee schedule (“Schedule A”) to the Agreement with respect to the Funds;
WHEREAS, effective March 13, 2023, Lincoln Investment Advisors Corporation underwent a name change to “Lincoln Financial Investments Corporation” (“LFI”).
Representations
1. | LFI represents and warrants that approval of this amendment has been obtained from the Trust’s Board of Trustees at a meeting held on September 12-13, 2023. |
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1. | The Recitals are incorporated herein and made a part hereof. |
2. | The Representations are incorporated herein and made a part hereof. |
3. | Schedule A shall be deleted and replaced with the attached Schedule A, effective as of October 1, 2023. |
4. | All references in the Agreement to “Lincoln Investment Advisors Corporation” or “LIAC” are hereby changed to “Lincoln Financial Investments Corporation” or “LFI.” |
5. | All other terms and provisions of the Agreement not amended herein shall remain in full force and effect. |
6. | This Amendment may be executed in two or more counterparts which together shall constitute one instrument. |
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers as of the day and year first above written.
LINCOLN FINANCIAL INVESTMENTS CORPORATION | BLACKROCK ADVISORS, LLC | |||||||
By: | /s/ Xxxxxxxx X. Xxxxxx | By: | /s/ Xxxxxxx Xxxxxx | |||||
Name: | Xxxxxxxx X. Xxxxxx | Name: | Xxxxxxx Xxxxxx | |||||
Title: | Senior Vice President | Title: | Managing Director |
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SCHEDULE A
Fee Schedule
The Adviser shall pay to the Sub-Adviser compensation for services rendered to the Fund at an annual rate as follows:
Effective Date |
Funds |
Fees payable on aggregate average daily net assets of the Managed Portions | ||||
LVIP Government Money Market fund |
First $500M: | Redacted | ||||
October 1, 2023 | $500M-$1B: | Redacted | ||||
Above $1B: | Redacted |
For purposes hereof, the “Managed Portion” means all assets managed by the Sub-Adviser and Subadviser Affiliates, but excluding any assets that are invested in registered investment funds managed by the Sub-Adviser and/or Subadviser Affiliates or their affiliates (“Sub-Adviser Affiliate Funds”). For the sake of clarity, any investments made into the Sub-Adviser Affiliate Funds shall pay the fees and expenses payable by all shareholders of the applicable class of the applicable Sub-Adviser Affiliate Fund.
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