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Exhibit 8(e)(ii)
AMENDMENT NO. 1
TO
BETWEEN
TOUCHSTONE ADVISORS, INC. AND SELECT ADVISORS VARIABLE INSURANCE TRUST
This Amendment No. 1 to is dated as of May 1, 1998
and amends the (the "") dated September 9,
1994 made by and between Select Advisors Variable Insurance Trust, a
Massachusetts business trust (the "Trust"), and Touchstone Advisors, Inc., an
Ohio corporation ("Touchstone"), and.
WHEREAS, the Touchstone acts as sponsor to the Trust pursuant to the
; and
WHEREAS, the Trust's Board of Trustees has amended and restated the
Establishment and Designation of Series appended to the Trust's Declaration of
Trust (the "Declaration") to add an additional series of Shares (as defined in
the Declaration) of the Trust, to be designated the Touchstone Value Plus
Portfolio;
NOW, THEREFORE, Section 4 of the is hereby amended,
effective as of May 1, 1998, to read as set forth below, the sole change in such
paragraph being the addition of information with respect to the Value Plus
Portfolio.
4. Operating Expense Waivers or Reimbursement. Touchstone
shall waive all or a portion of its fees pursuant to this and/or reimburse a portion of the operating expenses
(including amortization of organization expenses but excluding
interest, taxes, brokerage commissions and other portfolio transaction
expenses, capital expenditures and extraordinary expenses) ("Expenses")
of each Portfolio of the Trust such that after such reimbursement the
aggregate Expenses of the Portfolio shall be equal on an annual basis
to the following percentages of the average daily net assets of the
Portfolio for the Portfolio's then-current fiscal year: Emerging Growth
Portfolio, 1.15%; International Equity Portfolio, 1.25%; Balanced
Portfolio, 0.90%; Income Opportunity Portfolio, 0.85%; Standby Income
Portfolio, 0.50%; and Value Plus Portfolio, 0.85%.
Touchstone's obligations in this Section 4 may be
terminated, with respect to any Portfolio, by Touchstone as of the end
of any calendar quarter after December 31, 1995, upon at least 30 days
prior written notice to the Trust (an "Expense Cap Termination").
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IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to the
to be executed and delivered in their names and on their
behalf as of the day and year first above written. The person signing on behalf
of the Trust has executed this Agreement not individually, but as an officer
under the Trust's Declaration of Trust, and the obligations of this Agreement
are not binding upon such person or upon any of the Trust's Trustees, officer or
shareholder individually, but bind only the Trust estate.
SELECT ADVISORS VARIABLE
INSURANCE TRUST
By: ____________________________________
Xxxxxx X. Xxxxxxx, Xx., President
TOUCHSTONE ADVISORS INC.
By: ____________________________________
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