Exhibit 23(d)(1)(g)
April 25, 2007
Lincoln Investment Advisors Corporation
0000 Xxxxx Xxxxxxx Xxxxxx
Xxxx Xxxxx, Xxxxxxx 00000
RE: Advisory Fee Waiver Agreement - LVIP Xxxxxx Mid-Cap Growth Fund
Ladies and Gentlemen:
This letter agreement (the "Agreement") confirms the advisory fee waiver
between the XXXX Xxxxxx Mid-Cap Growth Fund (the "Fund"), a series of Lincoln
Variable Insurance Products Trust (the "Trust"), and Lincoln Investment
Advisors Corporation (the "Adviser") with respect to the portfolio management
of the LVIP Mid-Cap Growth Fund.
1. Advisory Expense Waiver. The Adviser has agreed to waive a portion of
the advisory fee payable to the Adviser under the Investment Management
Agreement, dated as of April 30, 2007 ("Investment Management
Agreement"), between the Fund and the Adviser, as set forth in the
attached Schedule A.
2. Term and Termination. This Agreement shall become effective on April 30,
2007 and shall continue for an initial period ending on April 30, 2008.
The Agreement shall renew automatically for one-year terms unless the
Trust or the Adviser provides written notice of the termination of the
Agreement within 30 days of the end of the then current term. In
addition, this Agreement will terminate automatically in the event of
the termination of the Investment Management Agreement or the
termination of the Sub-Advisory Agreement, executed as of April 30,
2007, between the Adviser and Xxxxxx Investment Partners, Inc.
3. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Delaware, provided that
nothing in this Agreement shall be construed in a manner inconsistent
with the Investment Company Act of 1940, as amended, or the Investment
Advisers Act of 1940, as amended.
Please indicate your approval of this Agreement by signing and returning a copy
of this letter to the Fund.
Sincerely,
LVIP XXXXXX MID-CAP GROWTH FUND, a series of
Lincoln Variable Insurance Products Trust
By: /s/ Xxxxxxx X. Xxxxx, Xx.
--------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Second Vice President
Agreed to:
LINCOLN INVESTMENT ADVISORS CORPORATION
By: /s/ Xxxxx X. Xxxxxxx
--------------------------
Name: Xxxxx X. Xxxxxxx
Title: Second Vice President
Schedule A
Avg. Daily Net Assets of the Fund Xxxxxx Xxxxxx*
--------------------------------- ----------------
$0 to $25 million......... 10 basis points
$25 to $75 million......... 5 basis points
* These amounts are stated on an annual basis.
