0000823535-00-500003 Sample Contracts

MANAGEMENT CONTRACT between VARIABLE INSURANCE PRODUCTS FUND III GROWTH & INCOME PORTFOLIO and FIDELITY MANAGEMENT & RESEARCH COMPANY
Management Contract • September 19th, 2000 • Variable Insurance Products Iii • Massachusetts

AGREEMENT AMENDED and RESTATED as of this 1st day of August 2000, by and between Variable Insurance Products Fund III, a Massachusetts business trust which may issue one or more series of shares of beneficial interest (hereinafter called the "Fund"), on behalf of Growth & Income Portfolio (hereinafter called the "Portfolio"), and Fidelity Management & Research Company, a Massachusetts corporation (hereinafter called the "Adviser") as set forth in its entirety below.

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SUB-ADVISORY AGREEMENT between FIDELITY MANAGEMENT & RESEARCH COMPANY and FIDELITY MANAGEMENT & RESEARCH (Far East) INC. and VARIABLE INSURANCE PRODUCTS FUND III ON BEHALF OF GROWTH & INCOME PORTFOLIO
Sub-Advisory Agreement • September 19th, 2000 • Variable Insurance Products Iii • Massachusetts

AMENDMENT made this 1st day of August, 2000, by and between Fidelity Management & Research Company, a Massachusetts corporation with principal offices at 82 Devonshire Street, Boston, Massachusetts (hereinafter called the "Advisor"); Fidelity Management & Research (Far East) Inc. (hereinafter called the "Sub-Advisor"); and Variable Insurance Products Fund III, a Massachusetts business trust which may issue one or more series of shares of beneficial interest (hereinafter called the "Trust") on behalf of Growth & Income Portfolio (hereinafter called the "Portfolio").

RESEARCH AGREEMENT Between FIDELITY MANAGEMENT & RESEARCH (Far East), INC. and FIDELITY INVESTMENTS JAPAN LIMITED
Research Agreement • September 19th, 2000 • Variable Insurance Products Iii • Massachusetts

AGREEMENT made this 20th day of July 2000, by and between Fidelity Management & Research (Far East), Inc., a Massachusetts corporation (the "Sub-Advisor"); and Fidelity Investments Japan Limited, a Japanese corporation (the "Japan Sub-Advisor").

GENERAL DISTRIBUTION AGREEMENT between VARIABLE INSURANCE PRODUCTS FUND III and FIDELITY DISTRIBUTORS CORPORATION
General Distribution Agreement • September 19th, 2000 • Variable Insurance Products Iii • Massachusetts

Agreement made this 20th day of July 2000, between Variable Insurance Products Fund III, a Massachusetts business trust having its principal place of business in Boston, Massachusetts and which may issue one or more series of beneficial interest ("Issuer"), with respect to shares of Dynamic Capital Appreciation Portfolio, a series of the Issuer, and Fidelity Distributors Corporation, a Massachusetts corporation having its principal place of business in Boston, Massachusetts ("Distributors").

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