AMENDMENT TO CUSTODIAN AGREEMENT
between
AETNA VARIABLE PORTFOLIOS, INC.
and
MELLON BANK, N.A.
WITNESSETH:
WHEREAS, Aetna Variable Portfolios, Inc. (the "Fund"), and Mellon Bank,
N.A. ("Mellon"), entered into a Custodian Agreement (the "Agreement") on August
26, 1996 with respect to the assets of certain portfolios of the Fund and some
or all additional portfolios that the Fund may establish from time to time; and
WHEREAS, the Fund has authorized the creation of new portfolios, Aetna
Index Plus Small Cap Portfolio, Aetna Index Plus Mid Cap Portfolio, Aetna Mid
Cap Portfolio, Aetna Real Estate Securities Portfolio, Aetna Index Plus Bond
Portfolio, and Aetna High Yield Portfolio ("Portfolios"), and has amended its
registration statement on Form N-1A to register shares of beneficial interest of
the Portfolios with the Securities and Exchange Commission; and
WHEREAS, the Fund desires to appoint Mellon as custodian of the assets
for such Portfolios;
NOW THEREFORE, it is agreed as follows:
1. The Fund, on behalf of the Portfolios, hereby appoints Mellon, and
Mellon hereby accepts appointment, as the custodian of the assets of the
Portfolios, in accordance with all the terms and conditions set forth in the
Agreement.
2. The Fund is entering into this Agreement incorporating the Agreement
on behalf of each Portfolio individually and not jointly with any other
Portfolio. In the Agreement, the term "Fund" shall refer to the Fund solely on
behalf of each Portfolio individually to which a particular Futures Contract
transaction or other obligation under the Agreement relates. The
responsibilities and benefits set forth in the Agreement shall refer to each
Portfolio severally and not jointly. No individual Portfolio shall have any
responsibility for any obligation arising out of a Futures Contract transaction
entered into by any other Portfolio. Without otherwise limiting the generality
of the foregoing,
(a) any breach of the Agreement regarding the Fund with
respect to any one Portfolio shall not create a right or
obligation with respect to any other Portfolio;
(b) under no circumstances shall Mellon have the right to set
off claims relating to a Portfolio by applying property of
any other Portfolio;
(c) no Portfolio shall have the right of set off against the
assets held by any other Portfolio;
(d) the business and contractual relationships created by the
Agreement as amended hereby, and the consequences of such
relationships relate solely to the particular Portfolio to
which such relationship was created; and
(e) all property held by Mellon on behalf of a particular
Portfolio shall relate solely to the particular Portfolio.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their officers designated below on the date mentioned below.
Aetna Variable Portfolios, Inc. on behalf of
Aetna Index Plus Small Cap Portfolio
Aetna Index Plus Mid Cap Portfolio
Aetna Mid Cap Portfolio
Aetna Real Estate Securities Portfolio
Aetna Index Plus Bond Portfolio
Mellon Bank, N.A. Aetna High Yield Portfolio
By: /s/ Xxxxxxx X. Xxxxxxxx By: /s/ Xxxxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxxxx Name: Xxxxxxxxx X. Xxxxxx
Title: Vice President Title: Asst. Treasurer
Mellon Bank, N.A.
Date: 12/21/97 Date: 11/11/97
