Exhibit 4(b)
SUBADVISORY AGREEMENT
This Agreement is between The Lincoln National Life Insurance Company ("the
Company"), an Indiana corporation and Modern Portfolio Theory Associates, Inc.
("MPT"), a Delaware corporation with respect to Lincoln National Variable
Annuity Fund A ("xxx Xxxx"). This Agreement is effective as of January 15,
1986.
In consideration of the mutual promises set forth below, the parties agree
as follows:
1. MPT shall furnish to the Company such services as the company may
request in connection with the Company's performance of its obligations under
its contract with the Fund. The Company will continue to have responsibility
for all services under its contract with the Fund.
2. The Company shall reimburse MPT for costs and expenses incurred by
MPT, determined in a manner acceptable to the Company, in furnishing the
services described in paragraph 1 above.
3. This Agreement may be terminated by either party at any time upon not
less than thirty (30) days prior written notice to the other party. This
Agreement will terminate automatically in the event of its assignment. No
termination of this Agreement will affect the terms of contracts between the
Company and the Fund. In the event of the assignment or termination of the
Company's advisory contracts with the Fund, this Agreement will terminate
automatically.
4. This Agreement shall continue in effect for a period of more than two
years from its execution only so long as such continuance is specifically
approved at least annually in accordance with the requirements of the Investment
Company Act of 1940 applicable to continuation of advisory contracts.
THE LINCOLN NATIONAL MODERN PORTFOLIO THEORY
LIFE INSURANCE COMPANY ASSOCIATES, INC.
By: By:
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Attest: Attest:
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