0000708950-07-000010 Sample Contracts

INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT SUBADVISORY AGREEMENT, effective November 18, 2006, by and between CALVERT ASSET MANAGEMENT COMPANY, INC., a Delaware corporation registered as an investment adviser under the Investment Advisers Act of 1940 (the "Adviser"), and HARRIS ASSOCIATES L.P., a Delaware corporation (the "Subadviser").

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INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT SUBADVISORY AGREEMENT, effective November 18, 2006, by and between CALVERT ASSET MANAGEMENT COMPANY, INC., a Delaware corporation registered as an investment adviser under the Investment Advisers Act of 1940 (the "Advisor"), and OFI INSTITUTIONAL ASSET MANAGEMENT, INC., a New York corporation registered as an investment adviser under the Investment Advisers Act of 1940 (the "Subadvisor").

INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT SUBADVISORY AGREEMENT, effective November 18, 2006, by and between CALVERT ASSET MANAGEMENT COMPANY, INC., a Delaware corporation registered as an investment advisor under the Investment Advisers Act of 1940 (the "Advisor"), and THORNBURG INVESTMENT MANAGEMENT (the "Subadvisor").

INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT SUBADVISORY AGREEMENT, effective ____________, __, 2007, by and between Calvert Asset Management Company, Inc., a Delaware corporation registered as an investment Advisor under the Investment Advisers Act of 1940 (the "Advisor"), and RiverSource Investments, LLC, a Minnesota limited liability company (the "Subadvisor").

UNDERWRITING AGREEMENT
Underwriting Agreement • April 30th, 2007 • Calvert Variable Series Inc

UNDERWRITING AGREEMENT, effective November 18, 2006, by and between CALVERT DISTRIBUTORS, INC., a Delaware corporation (the "Distributor"), and cALVERT vARIABLE sERIES, iNC., a Maryland corporation (the "Fund").

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT ADVISORY AGREEMENT, effective November 18, 2006, by and between CALVERT ASSET MANAGEMENT COMPANY, INC., a Delaware corporation (the "Adviser"), and CALVERT VARIABLE SERIES, INC., a Maryland corporation (the "Fund").

INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • April 30th, 2007 • Calvert Variable Series Inc • Maryland

INVESTMENT SUBADVISORY AGREEMENT, effective __________ __, 2007, by and between Calvert Asset Management Company, Inc., a Delaware corporation registered as an investment Advisor under the Investment Advisers Act of 1940 (the "Advisor"), and Bridgeway Capital Management, Inc., a Texas corporation (the "Subadvisor").

AMENDED ADMINISTRATIVE SERVICES AGREEMENT SCHEDULE A
Administrative Services Agreement • April 30th, 2007 • Calvert Variable Series Inc

Listed below are the portfolios of Calvert Variable Series, Inc. that are entitled to receive administrative services from Calvert Administrative Services Company ("CASC") under the Administrative Services Agreement dated October 8, 1999, as revised January 2, 2001 and October 31, 2003, and which will pay annual fees to CASC pursuant to the Agreement.

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