0001571049-16-014067 Sample Contracts

SUBADVISORY AGREEMENT
Subadvisory Agreement • April 20th, 2016 • Virtus Variable Insurance Trust • Delaware

Virtus Variable Insurance Trust (the “Fund”) is an open-end investment company of the series type registered under the Investment Company Act of 1940, as amended (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, including Virtus International Series (collectively, sometimes hereafter referred to as the “Series”).

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FIFTH AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 20th, 2016 • Virtus Variable Insurance Trust • Delaware

This Fifth Amended and Restated Expense Limitation Agreement (the “Agreement”) effective as of May 1, 2016, amends and restates that Amended and Restated Expense Limitation Agreement effective as of May 14, 2015, by and between Virtus Variable Insurance Trust, a Delaware statutory 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”).

THIRD AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 20th, 2016 • Virtus Variable Insurance Trust • Delaware

THIS AMENDMENT effective as of the 14th day of May, 2015, amends that certain Investment Advisory Agreement (the “Agreement”) by and between Virtus Variable Insurance Trust, a Delaware statutory trust (the “Trust”), and Virtus Investment Advisers, Inc., a Massachusetts corporation (the “Adviser”), as follows:

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