ALPS VARIABLE INVESTMENT TRUST SUB-ADVISORY AGREEMENT ALPS/RED ROCKS LISTED PRIVATE EQUITY PORTFOLIOSub-Advisory Agreement • April 1st, 2016 • ALPS Variable Investment Trust • Colorado
AGREEMENT, dated as of July 31, 2015 by and among ALPS Advisors, Inc. (the “Investment Adviser”), a Colorado corporation having its principal place of business at 1290 Broadway, Suite 1100, Denver, Colorado, ALPS Variable Investment Trust, a Delaware statutory trust (the “Trust”), on behalf of the portfolios listed in Appendix A hereto, as amended from time to time, each a series of the Trust (each, a “Portfolio” and collectively, the “Portfolios”), and Red Rocks Capital LLC, a Colorado limited liability company (the “Sub-Adviser”), having its principal place of business at 25188 Genesee Trail Road, Suite 250, Golden, Colorado 80401.
July 31, 2015Letter Agreement • April 1st, 2016 • ALPS Variable Investment Trust
ALPS ADVISORS, INC.Alps Advisors • April 1st, 2016 • ALPS Variable Investment Trust
This letter confirms the agreement by ALPS Advisors, Inc. (the “Adviser”) with the Trust to contractually limit the total amount of the “Management Fees” and “Other Expenses” that it is entitled to receive from the Portfolio. To the extent the Total Annual Fund Operating Expenses (as defined in Item 3 to Form N-1A, exclusive of distribution and service (12b-1) fees, shareholder services fees, acquired fund fees and expenses, brokerage commissions, taxes and extraordinary expenses) exceed 0.80% for each of the Class I and III shares of the Portfolio, the Adviser will reduce the fee payable with respect to the Portfolio to the extent of such excess and/or shall reimburse the Portfolio (or Class as applicable) by the amount of such excess. The waiver or reimbursement shall be allocated to each Class of the Portfolio in the same manner as the underlying expenses or fees were allocated.
April 30, 2016Letter Agreement • April 1st, 2016 • ALPS Variable Investment Trust
April 30, 2016 ALPS Variable Investment Trust Board of TrusteesLetter Agreement • April 1st, 2016 • ALPS Variable Investment Trust
