0001193125-16-563199 Sample Contracts

INVESTMENT MANAGEMENT FEE REDUCTION AGREEMENT
Investment Management Fee Reduction Agreement • April 28th, 2016 • Ivy Funds Variable Insurance Portfolios

INVESTMENT MANAGEMENT FEE REDUCTION AGREEMENT, effective as of May 1, 2016, by and between Waddell & Reed Investment Management Company (“WRIMCO”) and Ivy Funds Variable Insurance Portfolios (the “Trust”), a Delaware statutory trust, on behalf of its series designated Ivy Funds VIP Real Estate Securities (the “Fund”).

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