Exhibit 23(d)(1)(h)
January 1, 2009
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP Wilshire Profile Funds
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the LVIP Wilshire Profile Funds (collectively, the "Funds" and
individually, a "Fund"), 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 LVIP Wilshire
Profile 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 each Fund and the Adviser, as set forth in the
attached Schedule A.
2. Term and Termination. This Agreement shall become effective on
January 1, 2009 and shall continue for an initial term ending April 30,
2010. The Agreement shall renew automatically for one-year terms unless
the Trust or the Adviser provides written notice of the termination of
the Agreement within 30 days of the end of the then current term. In
addition, this Agreement will terminate automatically in the event of
the termination of the Investment Management Agreement or the
termination of the Sub-Advisory Agreement, dated April 30, 2007, between
the Adviser and Wilshire Associates Incorporated.
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 Fund.
Very truly yours,
LVIP Wilshire Conservative Profile Fund
LVIP Wilshire Moderate Profile Fund
LVIP Wilshire Moderately Aggressive Profile Fund
LVIP Wilshire Moderately Aggressive Profile Fund
LVIP Wilshire 2010 Profile Fund
LVIP Wilshire 2020 Profile Fund
LVIP Wilshire 2030 Profile Fund
LVIP Wilshire 2040 Profile Fund
Each a series of Lincoln Variable Insurance Products Trust
/s/ Xxxxxxx X. Xxxxx, Xx.
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Name: Xxxxxxx X. Xxxxx, Xx.
Title: Second Vice President
Agreed to:
LINCOLN INVESTMENT ADVISORS CORPORATION
/s/ Xxxxx X. Xxxxxxx
------------------------------
Name: Xxxxx X. Xxxxxxx
Title: Second Vice President
Schedule A
Avg. Daily Net Assets of the Fund Waiver Amount*
--------------------------------- ---------------------------------------
All Assets of the Fund 5 basis points
* These amounts are stated on an annual basis.
