EXHIBIT 28(H)(6)
ADMINISTRATIVE SERVICES AGREEMENT
WHEREAS, Capital Research and Management Company ("CRMC") is the
investment adviser to Capital Income Builder, Intermediate Bond Fund of America
and Short-Term Bond Fund of America (each a "Fund" and together, the "Funds")
and has entered into an agreement with each of the Funds to provide, or cause
to be provided, administrative services in respect of accounts holding Class
F-2 shares of the Funds; and
WHEREAS, Lincoln Investment Advisors Corporation ("LIAC") has entered
into a Fund Participation Agreement under which it is authorized to make
available to the funds of the Lincoln Variable Insurance Products Trust (the
"Trust") shares of the Funds; and
WHEREAS, CRMC desires to retain the services of LIAC to provide certain
administrative services in respect of accounts holding Class F-2 shares of the
Funds as set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises, the parties agree as
follows:
1. Services. During the term of this Agreement, LIAC shall perform the
administrative services ("Services") set forth in Exhibit A hereto, as such
exhibit may be amended from time to time by mutual consent of the parties, in
respect of accounts holding Class F-2 shares of the Funds.
2. Fees. In consideration of LIAC performing the Services, CRMC agrees
to pay LIAC an administrative services fee in respect of accounts holding Class
F-2 shares of the Funds as described on Schedule I of this Agreement.
3. Access to Information. LIAC shall permit CRMC, upon reasonable
advance notice and during normal business hours, to visit and inspect LIAC's
books and records relating to accounts for which LIAC is providing Services and
its performance under this Agreement and to discuss the foregoing with its
officers, employees and accountants, as CRMC may reasonably request.
4. Effective Date and Termination of Agreement. This Agreement is
effective July 30, 2010 or such later date as agreed to by the parties, and may
be terminated by either party upon sixty (60) days' prior written notice to the
other party.
5. Amendment. This Agreement may be amended only by a written instrument
signed by both parties.
6. Assignment. This Agreement shall not be assigned by either party
without the prior written consent of the other party
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
its duly authorized officers, effective as of the date above.
CAPITAL RESEARCH AND MANAGEMENT COMPANY LINCOLN INVESTMENT ADVISORS CORPORATION
Signature: /s/ Xxxxxxx Xxxxxx Signature: /s/ Xxxxxx X. Xxxxx
Name: Xxxxxxx Xxxxxx Printed Name: Xxxxxx X. Xxxxx
Title: Senior Vice President and Secretary Title: President
Date: July 30, 2010
EXHIBIT A
TO
ADMINISTRATIVE SERVICES AGREEMENT
1. Record Maintenance
LIAC shall maintain with respect to each fund of the Trust holding the
Funds' Class F-2 the following records:
(a) Number of shares;
(b) Date, price and amount of purchases and redemptions (including
dividend reinvestments) and dates and amounts of dividends paid for at least
the current year to date;
(c) Name and address and taxpayer identification numbers;
(d) Records of distributions and dividend payments;
(e) Any transfers of shares; and
2. Shareholder Communications
LIAC shall provide for the delivery of certain Fund-related materials as
requested by Contract owners (as defined in the Fund Participation Agreement).
The Fund related materials shall consist of updated prospectuses and any
supplements and amendments thereto, statements of additional information,
annual and other periodic reports, proxy or information statements and other
appropriate shareholder communications.
3. Transactional Services
LIAC shall communicate to the Trust, purchase, redemption and exchange
orders. LIAC shall also communicate to funds of the Trust, mergers, splits and
other reorganization activities.
4. Tax Information Returns and Reports
LIAC shall prepare and file, with the appropriate governmental agencies,
such information, returns and reports as are required to be so filed for
reporting (i) dividends and other distributions made, (ii) amounts withheld on
dividends and other distributions and payments under applicable federal and
state laws, rules and regulations, and (iii) gross proceeds of sales
transactions as required.
5. Other Information
LIAC shall provide to the funds of the Trust and Contract owners such
other information as shall be required under applicable law and regulations.
SCHEDULE I
For the services rendered by LIAC pursuant to this Agreement, CRMC agrees to
pay LIAC the following fees, with respect to each of the Funds, for accounts
holding Class F-2 shares of the Funds:
. CRMC shall pay to LIAC 0.10% of the average daily net asset value of all
Class F-2 shares of the Funds held by each fund of the Trust (including
assets invested through reinvestment of dividends and distributions),
payable quarterly, in arrears. CRMC shall compute the fee for each
quarterly period ending the last business day of February, May, August
and November which shall be the product of (a) the average daily net
asset value of all Class F-2 shares of the Funds held by each fund of
the Trust during the quarter; (b) the number of days in the quarter; and
(c) the quotient of 0.0010 divided by 365.
CRMC shall pay all fees within forty-five (45) days following the end of the
calendar quarter for fees accrued during that quarter. CRMC shall not be
responsible for payment of fees more than six (6) months in arrears in respect
of accounts that were not timely identified by LIAC as eligible for
compensation pursuant to this Agreement.
CRMC will evaluate periodically LIAC's service levels, including compliance
with established NSCC guidelines, transaction errors, compliance with the
prospectus and complaints from Contract owners, in determining whether to
continue making payments under this Agreement.
