AMENDMENT TO SERVICES AGREEMENT
Effective March 1, 1999, Schedule 6.1, of the Services Agreement made
August 15, 1996 by and among Delaware Management Holdings, Inc., Delaware
Service Company, Inc., Lincoln National Life Insurance Company, and each of the
investment companies listed on Exhibit A, is hereby amended in its entirety by
substituting the attached fee schedule for the one in the original agreement.
All other terms and conditions of the Services Agreement remain in full
force and effect.
In witness whereof, each of the parties hereto has caused this
Amendment to be executed in its name and behalf by its duly authorized officer
on the date specified below.
Date: 4/6/99 Lincoln National Life Insurance Company
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By: /s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx, Senior Vice President,
Chief Financial Officer and Assistant
Treasurer
Date: 5/5/99 Delaware Management Holdings, Inc.
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By: /s/ Xxxxx X. Xxxxxx
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Title: EXECUTIVE VICE PRESIDENT/CHIEF
OPERATING OFFICER
Date: 5/3/99 Delaware Service Company, Inc.
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By: /s/ Xxxxxxx X. Xxxxxx
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Title: SENIOR VICE PRESIDENT & TREASURER
Date: 3/31/99 Lincoln National Aggressive Growth Fund, Inc.
-------------------- Lincoln National Bond Fund, Inc.
Lincoln National Capital Appreciation Fund, Inc.
Lincoln National Equity-Income Fund, Inc.
Lincoln National Global Asset Allocation Fund, Inc.
Lincoln National Growth and Income Fund, Inc.
Lincoln National International Fund, Inc.
Lincoln National Managed Fund, Inc.
Lincoln National Money Market Fund, Inc.
Lincoln National Social Awareness Fund, Inc.
Lincoln National Special Opportunities Fund, Inc.
By: /s/ Xxxxx X. Xxxxxxxxx
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Xxxxx X. Xxxxxxxxx
In his capacity as President of each
of the above named Funds.
Separate Accounts Schedule
September 30, 1998
FIRST CLASS OF EACH ADD 100MM TO GREATER THAN 500 MM & GREATER THAN 750 MM & GREATER THAN
SHARE MINIMUM SH CLASS 500 MM LESS THAN 750 MM LESS THAN 1 BILLION 1 BILLION
------------- -------- ------ ---------------- --------------------- ------------
EF EQUITY FUND 33,000.00 2,200.00 0.0175% 0.0150% 0.0125% 0.0100%
FX FIXED INCOME FUND 33,000.00 2,200.00 0.0175% 0.0150% 0.0125% 0.0100%
IF INTERNATIONAL FUND 33,000.00 2,200.00 0.0475% 0.0450% 0.0400% 0.0350%
MM MONEY MARKET FUND 33,000.00 2,200.00 0.0125% 0.0125% 0.0125% 0.0100%
MONTHLY
AVERAGE NUMBER OF
ACCOUNT NAME ASSETS ANNUAL FEES CLASS FEES TOTAL FEES CLASSES
------------ ------ ----------- ---------- ---------- -------
EF S/A 3 $427,913.52 $33,000.00 $0.00 $2,750.00 1
EF S/A 11 $666,007,412.16 $130,000.93 $11,000.00 $11,750.08 6
FX S/A 12 $471,075,637.38 $97,938.24 $11,000.00 $9,078.19 6
MM S/A 14 $198,693,487.35 $45,336.69 $11,000.00 $4,694.72 6
EQ S/A 17 $324,830,744.73 $72,345.38 $11,000.00 $6,945.45 6
FX S/A 20 $96,864,260.44 $33,000.00 $11,000.00 $3,666.67 6
IF S/A 22 $153,025,814.48 $58,187.26 $11,000.00 $5,765.61 6
EF S/A 23 $505,937,563.25 $103,890.63 $11,000.00 $9,574.22 6
EF S/A 24 $136,898,762.14 $39,457.28 $11,000.00 $4,204.77 6
FX S/A 25 $22,839,223.65 $33,000.00 $0.00 $2,750.00 1
FX S/A 26 $45,198,946.29 $33,000.00 $8,800.00 $3,483.33 5
FX S/A 27 $11,881,990.38 $33,000.00 $0.00 $2,750.00 5
EF S/A 28 $182,021,414.45 $47,353.75 $11,000.00 $4,862.81 6
FX S/A 47 $101,970,390.58 $33,344.82 $0.00 $2,778.73 1
EF VA Fund A $122,835,709.15 $36,996.25 $2,200.00 $3,266.35 2
--------------- ---------- --------- --------- -
Total Separate
Account Fees $3,040,509,269.95 $78,320.94 69
PROPOSED FEE SCHEDULE FOR LINCOLN LIFE FOR 1999
Flat Fee for up to 15 Non Fund of Fund Accounts $800,000
Flat Fee for up to 1,200 Fund of Fund Accounts $2,000,000
----------
Total Annual Fees $2,800,000
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Annualized Savings to Lincoln Life with Projected Growth $1,103,200
==========
PROPOSED FEE SCHEDULE
$500
MILLION
FIRST $100 $100 TO $5 BILLION
MILLION MILLION TO $1 $1 BILLION TO TO $8 BILLION TO OVER
OR MINIMUM $500 MILION BILLION $5 BILLION $8 BILLION $10 BILLION $10 BILLION
---------- ----------- ------- ---------- ---------- ----------- -----------
(EF) EQUITY FUND $65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(FX) FIXED INCOME FUND $65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(IF) INTERNATIONAL FUND $87,000 0.0600% 0.0600% 0.0600% 0.0550% 0.0400% 0.0300%
(MM) MONEY MARKET FUND $65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(MS) MULTIPLE SLEEVE FUND $100,000 0.0700% 0.0650% 0.0600% 0.0550% 0.0400% 0.0300%
FEE AS A
FUND MONTHLY AVERAGE ANNUALIZED PERCENTAGE
TYPE FUND ASSETS FEE OF ASSETS
---- ---- ------ --- ---------
(EQ) Aggressive $308,367,238 $143,137.71 0.0464%
Growth
(FX) Bond Fund $362,200,636 $163,325.24 0.0451%
(EQ) Capital $702,648,534 $285,926.99 0.0407%
Appreciation
(EQ) Equity Income $959,666,008 $375,883.10 0.0392%
(EQ) Growth and $4,099,178,594 $1,319,753.58 0.0322%
Income Fund
(IF) International $490,692,137 $321,415.28 0.0655%
Fund
(EQ) Managed Fund $944,463,345 $370,562.17 0.0392%
(MM) Money Market $131,586,637 $76,844.99 0.0584%
(MS) Global Asset $477,231,874 $364,062.31 0.0763%
Allocation
(EQ) Social $1,769,015,108 $620,704.53 0.0351%
Awareness Fund
(EQ) Special $878,849,370 $347,597.28 0.0396%
Opportunities ------------ ----------- -------
Total Funds $11,123,899.481 $4,389,213.18 0.0395%
--------------- ------------- -------
PROPOSED
FEE IN
COMPARISON OF CURRENT FEE BASIS CHANGE
FEE SCHEDULES IN BASIS POINTS POINTS IN FEE
------------- --------------- ------ ------
Aggressive 0.0464% 0.0464% 0.0000%
Growth
Bond Fund 0.0451% 0.0451% 0.0000%
Capital 0.0407% 0.0407% 0.0000%
Appreciation
Equity Income 0.0381% 0.0392% 0.0011%
Growth and 0.0243% 0.0322% 0.0079%
Income Fund
International 0.0655% 0.0655% 0.0000%
Fund
Managed Fund 0.0382% 0.0392% 0.0010%
Money Market 0.0584% 0.0584% 0.0000%
Global Asset 0.0657% 0.0763% 0.0106%
Allocation
Social 0.0300% 0.0351% 0.0051%
Awareness Fund
Special 0.0388% 0.0396% 0.0007%
Opportunities
Total Funds 0.0351% 0.0395% 0.0044%
