0001193125-10-272323 Sample Contracts

VIRTUS VARIABLE INSURANCE TRUST Virtus International Series SUBADVISORY AGREEMENT
Subadvisory Agreement • December 1st, 2010 • Virtus Variable Insurance Trust • Massachusetts

Virtus Variable Insurance Trust (formerly The Phoenix Edge Series Fund) (the “Fund”) is an open-end investment company of the series type registered under the Investment Company Act of 1940 (the “Act”), and is subject to the rules and regulations promulgated thereunder. The shares of the Fund are offered or may be offered in several series (collectively, sometimes hereafter referred to as the “Series”).

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UNDERWRITING AGREEMENT between VIRTUS VARIABLE INSURANCE TRUST and VP DISTRIBUTORS, INC.
Underwriting Agreement • December 1st, 2010 • Virtus Variable Insurance Trust • Connecticut

THIS AGREEMENT, made and entered into November 5, 2010, by and between Virtus Variable Insurance Trust (formerly The Phoenix Edge Series Fund) (the “Fund”) for certain of its portfolios as set forth on Schedule A hereto, (the “Series”), a Massachusetts business trust and VP Distributors, Inc. (“VPD”), a Connecticut corporation (the “Underwriter”).

PARTICIPATION AGREEMENT Among VIRTUS VARIABLE INSURANCE TRUST, VP DISTRIBUTORS, INC., PHOENIX LIFE INSURANCE COMPANY, PHL VARIABLE INSURANCE COMPANY, PHOENIX LIFE AND ANNUITY COMPANY and
Participation Agreement • December 1st, 2010 • Virtus Variable Insurance Trust • Connecticut

THIS AGREEMENT (“Agreement”) is made and entered into as of the 5th day of November, 2010, by and among Phoenix Life Insurance Company, PHL Variable Insurance Company and Phoenix Life and Annuity Company (together the “Company”) on their own behalf and on behalf of each of their separate accounts named in Schedule A, attached (“Accounts”), 1851 Securities, Inc. (“1851”), Virtus Variable Insurance Trust, formerly known as The Phoenix Edge Series Fund (“Fund”) and VP Distributors, Inc. (“Underwriter”).

Rule 22c-2 Agreement
Rule 22c-2 Agreement • December 1st, 2010 • Virtus Variable Insurance Trust

AGREEMENT entered into as of November 5, 2010 by and among VP Distributors, Inc. (“Fund Agent”), Phoenix Life Insurance Company, PHL Variable Insurance Company, and Phoenix Life and Annuity Company (together “Insurance Company”), and 1851 Securities Inc.(“1851”).

THE PHOENIX EDGE SERIES FUND Amendment dated November 5, 2010 to the Agreement and Declaration of Trust
Phoenix Edge Series Fund • December 1st, 2010 • Virtus Variable Insurance Trust

Article I, Section 1.1 of the Agreement and Declaration of Trust of The Phoenix Edge Series Fund is amended to read as follows (additions are underscored and deletions are struck-through, with the exception of captions which are underlined though not amended):

Distribution and Administrative Services Agreement
Distribution and Administrative Services Agreement • December 1st, 2010 • Virtus Variable Insurance Trust • Massachusetts

This Distribution and Administrative Services Agreement (the “Services Agreement”) is among Virtus Investment Advisers, Inc. (“Virtus”), VP Distributors, Inc. (“VPD”), Phoenix Life Insurance Company, PHL Variable Insurance Company, and Phoenix Life and Annuity Company (each a “Company” and collectively, the “Company”) and 1851 Securities, Inc. (“1851”), effective as of November 5, 2010 (the “Services Agreement”). The Company is a life insurance company (the “Insurer”) and 1851 is a broker-dealer (“Underwriter”) that is affiliated with Insurer and that serves as the principal underwriter for variable annuity and/or variable life insurance contracts issued by Insurer. This Agreement is part of, and contingent upon, the execution of a Transaction Agreement by and among Phoenix Variable Advisors, Inc. Virtus Investment Advisers, Inc. and Phoenix Life Insurance Company, Inc. dated July 26, 2010 (the “Transaction Agreement”) and shall be effective upon the Closing (as defined in the Transact

VIRTUS VARIABLE INSURANCE TRUST INVESTMENT ADVISORY AGREEMENT
Virtus Variable Insurance Trust • December 1st, 2010 • Virtus Variable Insurance Trust • Massachusetts

THIS AGREEMENT, effective as of the 5th day of November, 2010 (the “Contract Date”) by and between Virtus Variable Insurance Trust (formerly The Phoenix Edge Series Fund), a Massachusetts business trust (the “Trust”) and Virtus Investment Advisers, Inc., a Massachusetts corporation (the “Adviser”).

EXPENSE LIMITATION AGREEMENT VIRTUS VARIABLE INSURANCE TRUST
Expense Limitation Agreement • December 1st, 2010 • Virtus Variable Insurance Trust • Massachusetts

This Expense Limitation Agreement (the “Agreement”) effective as of November 5, 2010, is by and between Virtus Variable Insurance Trust (formerly The Phoenix Edge Series Fund), a Massachusetts business trust (the “Registrant”), on behalf of each series of the Registrant listed in Appendix A (each a “Fund” and collectively, the “Funds”) and the Adviser of each of the Funds, Virtus Investment Advisers, Inc., a Massachusetts corporation (the “Adviser”).

VIRTUS VARIABLE INSURANCE TRUST Virtus Small-Cap Growth Series Virtus Small-Cap Value Series SUBADVISORY AGREEMENT
Virtus Variable Insurance Trust • December 1st, 2010 • Virtus Variable Insurance Trust • Massachusetts

Virtus Variable Insurance Trust (formerly The Phoenix Edge Series Fund) (the “Fund”) is an open-end investment company of the series type registered under the Investment Company Act of 1940 (the “Act”), and is subject to the rules and regulations promulgated thereunder. The shares of the Fund are offered or may be offered in several series (collectively, sometimes hereafter referred to as the “Series”).

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