FORM OF INVESTMENT SUB-ADVISORY AGREEMENTInvestment Sub-Advisory Agreement • April 30th, 2013 • Rydex Variable Trust • Delaware
Contract Type FiledApril 30th, 2013 Company JurisdictionAGREEMENT made this th day of , 2013, by and between Security Investors, LLC, a Kansas limited liability company (the “Adviser”), and CLS Investments, LLC, a Nebraska limited liability company (the “Sub-Adviser”).