0001206774-21-002499 Sample Contracts

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • September 14th, 2021 • Ivy Variable Insurance Portfolios

THIS SUB-ADVISORY AGREEMENT (the “Agreement”) is made as of April 30, 2021, by and between DELAWARE MANAGEMENT COMPANY, a series of MACQUARIE INVESTMENT MANAGEMENT BUSINESS TRUST (the “Investment Manager”) and SECURIAN ASSET MANAGEMENT, INC., a Minnesota corporation (the “Sub-Adviser”).

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AMENDED AND RESTATED SCHEDULE A TO THE AGREEMENT AND DECLARATION OF TRUST
Ivy Variable Insurance Portfolios • September 14th, 2021

This Amended and Restated Schedule A, as amended July 1, 2021 (“Schedule A”), to the Ivy Variable Insurance Portfolios Amended and Restated Agreement and Declaration of Trust dated August 16, 2017 (the “Agreement”), is effective as of July 1, 2021, and supersedes any prior Schedule A to the Agreement.

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • September 14th, 2021 • Ivy Variable Insurance Portfolios

AGREEMENT, made by and between IVY VARIABLE INSURANCE PORTFOLIOS, a Delaware statutory trust (the “Trust”), on behalf of each series of shares of beneficial interest of the Trust that is listed on Exhibit A to this Agreement, as that Exhibit may be amended from time to time (each such series of shares is hereinafter referred to as a “Fund” and, together with other series of shares listed on such Exhibit, the “Funds”), and DELAWARE MANAGEMENT COMPANY, a series of Macquarie Investment Management Business Trust, a Delaware statutory trust (the “Investment Manager”).

IVY VARIABLE INSURANCE PORTFOLIOS DISTRIBUTION AGREEMENT
Distribution Agreement • September 14th, 2021 • Ivy Variable Insurance Portfolios • Pennsylvania

Distribution Agreement (the “Agreement”) made as of April 30, 2021 by and between IVY VARIABLE INSURANCE PORTFOLIOS (the “Trust”), a Delaware statutory trust, for the series identified on Schedule I attached hereto, as from time to time amended (the “Series”), and DELAWARE DISTRIBUTORS, L.P. (the “Distributor”), a Delaware limited partnership.

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