INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • April 29th, 2016 • Vanguard Variable Insurance Funds • Delaware
THIS AGREEMENT is made as of this 25th day of January, 2016, between Vanguard Variable Insurance Fund, a Delaware statutory trust (the “Trust”), and Arrowpoint Asset Management, LLC
AMENDED AND RESTATED AGREEMENT AND DECLARATION OF TRUST OF VANGUARD VARIABLE INSURANCE FUNDSAgreement and Declaration of Trust • April 29th, 2016 • Vanguard Variable Insurance Funds • Delaware
provided in Article VI, Section 1 hereof. No Share shall have any priority or preference over any other Share of the same Series with respect to dividends or distributions of the Trust or otherwise. All dividends and distributions shall be made ratably among all Shareholders of a Series (or class) from the assets held with respect to such Series according to the number of Shares of such Series (or class) held of record by such Shareholders on the record date for any dividend or distribution. Shareholders shall have no preemptive or other right to subscribe to any additional Shares or other securities issued by the Trust or any Series. The Trustees may from time to time divide or combine the Shares of a Series into a greater or lesser number of Shares of such Series without thereby materially changing the proportionate beneficial interest of such Shares in the assets held with respect to that Series or materially affecting the rights of Shares of any other Series.
