1
EX-99.9(c) Expense Reimbursement Agreement
2
February 20, 1998
Variable Investors Series Trust
00 Xxxx Xxxxxx Xxxxxx, 00xx xxxxx
Xxxxxx, XX 00000
Re: Expense Limitation
Dear Sirs:
The undersigned, First Variable Advisory Services Corp. ("FVAS") and First
Variable Life Insurance Company ("First Variable"), have entered into an
Agreement dated April 1, 1994 ("Expense Reimbursement Agreement") (a copy of
which is attached hereto) with Variable Investors Series Trust ("Trust") under
the terms of which FIRST VARIABLE has undertaken and agreed that it will, if
necessary, pay the expenses of each portfolio of the Trust ("Portfolio") until
April 1, 1999, to the extent that expenses of a Portfolio, other than
compensation of FVAS, exceed the annual rate of 0.50% of the Portfolio's average
net assets (except 0.25% with respect to the U.S. Government Bond Portfolio).
First Variable desires that each of the Portfolios of the Trust remain an
attractive investment medium to holders of variable products issued by its
separate accounts and that the Trust continue to offer shares of each of the
Portfolios to the separate accounts of First Variable. In consideration thereof,
and as an inducement to you to continue to offer shares to the separate
accounts, FVAS and First Variable hereby undertake and agree with the Trust that
they will, if necessary, continue to pay expenses of each of such Portfolios
until April 1, 1999 to the extent that expenses of a Portfolio, other than the
compensation of FVAS, exceed the annual rate of 0.50% of the Portfolio's average
net assets (0.25% in the case of the U.S. Government Bond Portfolio).
FIRST VARIABLE LIFE INSURANCE COMPANY
BY: /s/ Xxxx X. Xxxxxx
Xxxx X. Xxxxxx, President
FIRST VARIABLE ADVISORY SERVICES CORP.
BY: /s/ Xxxx X. Xxxx
Xxxx X. Xxxx, Treasurer
Agreed and accepted
VARIABLE INVESTORS SERIES TRUST
BY: /s/ Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx, Secretary
3
April 1, 1994
Variable Investors Series Trust
000 Xxxxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Re: Expense Limitations
Dear Sirs:
The undersigned, First variable Advisory Services Corp, ("FVAS"), and
First Variable Life Insurance Company ('First Variable"), provide to Variable
Investors Series Trust (the "Trust") Investment Advisory and other services in
respect of the operations of the Trust (the "Services"). Certain separate
accounts of First Variable offer shares of the various portfolios of the Trust
as investment media under variable insurance or annuity products issued by such
separate accounts. Such separate accounts, together with certain separate
accounts of Monarch Life Insurance Company, are the only shareholders of record
of each of such portfolios.
First Variable desires that each of the portfolios of the Trust remain an
attractive investment medium to holders of variable products issued by its
separate accounts and those issued by Monarch and that the Trust continue to
offer shares of each of the portfolios to the separate accounts of First
Variable and Monarch. In consideration thereof and as an inducement to you to
continue to offer shares to the separate accounts, FVAS and First Variable
hereby undertake and agree with the Trust that they will, if necessary, pay
expenses of each of such portfolio until April 1, 1995 to the extent that
expenses of a portfolio, other than the compensation of FVAS, exceed the annual
rate of 0.50% of the portfolio's average net assets (0.25% in the case of the
Cash Management Portfolio and the U.S. Government Bond Portfolio).
FIRST VARIABLE LIFE
INSURANCE COMPANY
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
President
FIRST VARIABLE ADVISORY
SERVICES CORP.
By: /s/ Xxxx X. Xxxxxxxx
Xxxx X. Xxxxxxxx
Treasurer
Agreed and accepted
VARIABLE INVESTORS SERIES TRUST
By: /s/ L. Xxxxxxx Xxxxxxxxx
L. Xxxxxxx Xxxxxxxxx
Vice President
