MILLIMAN VARIABLE INSURANCE TRUST AMENDMENT TO SCHEDULE A TO THE INVESTMENT ADVISORY AGREEMENT
MILLIMAN VARIABLE INSURANCE TRUST 485BPOS
Exhibit 28.(d)(ii)
MILLIMAN VARIABLE INSURANCE TRUST
AMENDMENT TO SCHEDULE A TO THE
THIS AMENDMENT (the “Amendment”), effective as of the 20th day of December, 2022, to Schedule A to the Investment Advisory Agreement, dated as of September 17, 2021 (the “Advisory Agreement”), is entered into by and between Milliman Financial Risk Management LLC, a limited liability company organized under the laws of the State of Delaware (the “Adviser”), and Milliman Variable Insurance Trust, a statutory trust organized under the laws of the State of Delaware (the “Trust”).
WHEREAS, each of the Trust and the Adviser is a party to the Advisory Agreement; and
WHEREAS, each of the Trust and the Adviser desires to amend the Advisory Agreement to replace Schedule A.
NOW, THEREFORE, the parties agree as follows:
1. Schedule A to the Advisory Agreement is hereby deleted in its entirety and replaced with Schedule A attached hereto.
2. Except to the extent amended hereby, the Advisory Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be effective as of the day and year first above written.
| Milliman Financial Risk Management LLC | ||
| By: | /s/Xxxxx Xxxxxxx | |
| Xxxxx Xxxxxxx, Principal & Senior Director | ||
| Date: | December 19, 2022 | |
| Milliman Variable Insurance Trust | ||
| By: | /s/Xxxx Xxxxxxx | |
| Xxxx Xxxxxxx, President | ||
| Date: | December 19, 2022 | |
SCHEDULE A
Funds and Investment Advisory Fees
Fees. Pursuant to Sections 1 and 6 of the Agreement, the Trust, on behalf of each Fund listed below, shall pay the Adviser as compensation an investment advisory fee, which shall be accrued daily and paid monthly as soon as practical after the last day of each month at the following annual rates on the average daily net assets of such Fund (“Investment Advisory Fee”):
| Fund Name | Annual Advisory Fee Rate |
Effective Date |
| Milliman 6-Month Buffered S&P 500 with Par Up Outcome Strategy | ||
| 1. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - Jan/Jul | 0.49% | January 10, 2022 |
| 2. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - Feb/Aug | 0.49% | January 10, 2022 |
| 3. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - Mar/Sep | 0.49% | January 10, 2022 |
| 4. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - Apr/Oct | 0.49% | January 10, 2022 |
| 5. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - May/Nov | 0.49% | January 10, 2022 |
| 6. Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund - Jun/Dec | 0.49% | January 10, 2022 |
| Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Strategy | ||
| 7. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - Jan/Jul | 0.49% | January 10, 2022 |
| 8. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - Feb/Aug | 0.49% | January 10, 2022 |
| 9. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - Mar/Sep | 0.49% | January 10, 2022 |
| 10. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - Apr/Oct | 0.49% | January 10, 2022 |
| 11. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - May/Nov | 0.49% | January 10, 2022 |
| 12. Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund - Jun/Dec | 0.49% | January 10, 2022 |
| Milliman 1-Year Xxxxxxxx S&P 500 with Spread Outcome Strategy | ||
| 13. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Jan | 0.49% | January 10, 2022 |
| 14. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Feb | 0.49% | January 10, 2022 |
| 15. Milliman 1-Year Xxxxxxxx S&P 500 with Spread Outcome Fund - Mar | 0.49% | January 10, 2022 |
| 16. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Apr | 0.49% | January 10, 2022 |
| 17. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - May | 0.49% | January 10, 2022 |
| 18. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Jun | 0.49% | January 10, 2022 |
| 19. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Jul | 0.49% | January 10, 2022 |
| 20. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Aug | 0.49% | January 10, 2022 |
| 21. Milliman 1-Year Xxxxxxxx S&P 500 with Spread Outcome Fund - Sep | 0.49% | August 10, 2022 |
| 22. Milliman 1-Year Xxxxxxxx S&P 500 with Spread Outcome Fund - Oct | 0.49% | August 10, 2022 |
| 23. Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund - Nov | 0.49% | August 10, 2022 |
| 24. Milliman 1-Year Xxxxxxxx S&P 500 with Spread Outcome Fund - Dec | 0.49% | August 10, 2022 |
| Milliman 1-Year Floored S&P 500 with Par Up Outcome Strategy | ||
| 25. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Jan | 0.49% | January 10, 2022 |
| 26. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Feb | 0.49% | January 10, 2022 |
| 27. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Mar | 0.49% | January 10, 2022 |
| 28. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Apr | 0.49% | January 10, 2022 |
| 29. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - May | 0.49% | January 10, 2022 |
| 30. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Jun | 0.49% | January 10, 2022 |
| 31. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Jul | 0.49% | January 10, 2022 |
| 32. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Aug | 0.49% | January 10, 2022 |
| 33. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Sep | 0.49% | August 10, 2022 |
A-1
| Fund Name | Annual Advisory Fee Rate |
Effective Date |
| 34. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Oct | 0.49% | August 10, 2022 |
| 35. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Nov | 0.49% | August 10, 2022 |
| 36. Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund - Dec | 0.49% | August 10, 2022 |
| Milliman 1-Year Xxxxxxxx S&P 500 & Nasdaq with Stacker Cap Outcome Strategy | ||
| 37. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Jan | 0.49% | January 10, 2022 |
| 38. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Feb | 0.49% | January 10, 2022 |
| 39. Milliman 1-Year Xxxxxxxx S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Mar | 0.49% | January 10, 2022 |
| 40. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Apr | 0.49% | January 10, 2022 |
| 41. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - May | 0.49% | January 10, 2022 |
| 42. Milliman 1-Year Xxxxxxxx S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Jun | 0.49% | January 10, 2022 |
| 43. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Jul | 0.49% | January 10, 2022 |
| 44. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Aug | 0.49% | January 10, 2022 |
| 45. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Sep | 0.49% | August 10, 2022 |
| 46. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Oct | 0.49% | August 10, 2022 |
| 47. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Nov | 0.49% | August 10, 2022 |
| 48. Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Dec | 0.49% | August 10, 2022 |
| Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Strategy | ||
| 49. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Jan | 0.49% | January 10, 2022 |
| 50. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Feb | 0.49% | January 10, 2022 |
| 51. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Mar | 0.49% | January 10, 2022 |
| 52. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Apr | 0.49% | January 10, 2022 |
| 53. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - May | 0.49% | January 10, 2022 |
| 54. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Jun | 0.49% | January 10, 2022 |
| 55. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Jul | 0.49% | January 10, 2022 |
| 56. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Aug | 0.49% | January 10, 2022 |
| 57. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Sep | 0.49% | August 10, 2022 |
| 58. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Oct | 0.49% | August 10, 2022 |
| 59. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Nov | 0.49% | August 10, 2022 |
| 60. Milliman 1-Year Xxxxxxxx S&P 500 & Xxxxxxx 2000 with Stacker Cap Outcome Fund - Dec | 0.49% | August 10, 2022 |
| Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Strategy | ||
| 61. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Jan | 0.49% | January 10, 2022 |
| 62. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Feb | 0.49% | January 10, 2022 |
| 63. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Mar | 0.49% | January 10, 2022 |
| 64. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Apr | 0.49% | January 10, 2022 |
| 65. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - May | 0.49% | January 10, 2022 |
| 66. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Jun | 0.49% | January 10, 2022 |
| 67. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Jul | 0.49% | January 10, 2022 |
| 68. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Aug | 0.49% | January 10, 2022 |
| 69. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Sep | 0.49% | August 10, 2022 |
| 70. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Oct | 0.49% | August 10, 2022 |
| 71. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Nov | 0.49% | August 10, 2022 |
| 72. Milliman 1-Year Xxxxxxxx S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund - Dec | 0.49% | August 10, 2022 |
| Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Strategy | ||
| 73. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Jan (I) | 0.49% | January 10, 2022 |
| 74. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Apr (I) | 0.49% | January 10, 2022 |
A-2
| Fund Name | Annual Advisory Fee Rate |
Effective Date |
| 75. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Jul (I) | 0.49% | January 10, 2022 |
| 76. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Oct (I) | 0.49% | August 10, 2022 |
| 77. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Jan (II) | 0.49% | October 11, 2022 |
| 78. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Apr (II) | 0.49% | December 20, 2022 |
| 79. Milliman 6-Year Xxxxxxxx S&P 500 with Par Up Outcome Fund - Jul (II) | 0.49% | December 20, 2022 |
| Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Strategy | ||
| 80. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Jan (I) | 0.49% | January 10, 2022 |
| 81. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Apr (I) | 0.49% | January 10, 2022 |
| 82. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Jul (I) | 0.49% | January 10, 2022 |
| 83. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Oct (I) | 0.49% | August 10, 2022 |
| 84. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Jan (II) | 0.49% | October 11, 2022 |
| 85. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Apr (II) | 0.49% | December 20, 2022 |
| 86. Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund - Jul (II) | 0.49% | December 20, 2022 |
| Milliman 6-Month Buffered S&P 500 with Trigger Outcome Strategy | ||
| 87. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - Jan/Jul | 0.49% | August 10, 2022 |
| 88. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - Feb/Aug | 0.49% | August 10, 2022 |
| 89. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - Mar/Sep | 0.49% | August 10, 2022 |
| 90. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - Apr/Oct | 0.49% | August 10, 2022 |
| 91. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - May/Nov | 0.49% | August 10, 2022 |
| 92. Milliman 6-Month Buffered S&P 500 with Trigger Outcome Fund - Jun/Dec | 0.49% | August 10, 2022 |
| Milliman Money Market Strategy | ||
| 93. Milliman Money Market Fund | 0.03% | January 10, 2022 |
Calculation. The Investment Advisory Fee for a Fund shall be calculated by the Fund’s accounting agent and shall be accrued daily and be calculated by applying the Investment Advisory Fee annual percentage rate, as specified above, to the average daily net assets of the Fund. The value of the Fund’s net assets shall be computed in the manner specified in the Registration Statement and the Governing Documents.
A-3
