0001093801-03-001097 Sample Contracts

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AMENDMENT NO. 5 TO INVESTMENT ADVISORY AGREEMENT BETWEEN TOUCHSTONE ADVISORS, INC. AND TOUCHSTONE VARIABLE SERIES TRUST
Investment Advisory Agreement • August 29th, 2003 • Touchstone Variable Series Trust

This Amendment No. 5 to Investment Advisory Agreement is dated as of April 28, 2003 and amends the Investment Advisory Agreement (the "Advisory Agreement") dated as of January 1, 1999, as amended, made by and between Touchstone Advisors, Inc., an Ohio corporation (the "Advisor"), and Touchstone Variable Series Trust, a Massachusetts business trust created pursuant to a Declaration of Trust dated February 7, 1994 (the "Trust").

ARTICLE I
Agreement and Plan of Reorganization • August 29th, 2003 • Touchstone Variable Series Trust • Maryland
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