0001104659-08-009438 Sample Contracts

ADVISORY AGREEMENT
Advisory Agreement • February 12th, 2008 • Rydex Variable Trust • Delaware

ADVISORY AGREEMENT made as of this 18th day of January, 2008 by and between RYDEX VARIABLE TRUST (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and PADCO ADVISORS II, INC., a Maryland corporation with its principal place of business at 9601 Blackwell Road, Suite 500, Rockville, Maryland 20850 (the “Adviser”).

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • February 12th, 2008 • Rydex Variable Trust • Delaware

AGREEMENT made this 18th day of January, 2008, by and between PADCO Advisors II, Inc., d/b/a Rydex Investments, a Maryland corporation (the “Adviser”), and CLS Investment Firm, LLC, a Nebraska limited liability company (the “Sub-Adviser”).

DISTRIBUTION AGREEMENT
Distribution Agreement • February 12th, 2008 • Rydex Variable Trust • Delaware

THIS AGREEMENT, dated as of January 18, 2008, is entered into by and between RYDEX VARIABLE TRUST (the “Trust”), a Delaware business trust and RYDEX DISTRIBUTORS, INC. (the “Distributor”), a Maryland corporation.

INVESTOR SERVICES AGREEMENT RYDEX VARIABLE TRUST
Investor Services Agreement • February 12th, 2008 • Rydex Variable Trust • Maryland

THIS DISTRIBUTION AND SHAREHOLDER SERVICES AGREEMENT is made as of this 18th day of January, 2008 by and between Rydex Variable Trust, a Delaware business trust (the “Trust”), and Rydex Distributors, Inc. (the “Distributor”), a Maryland corporation (the “Agreement”).

ADVISORY AGREEMENT
Advisory Agreement • February 12th, 2008 • Rydex Variable Trust • Delaware

ADVISORY AGREEMENT made as of this 18th day of January, 2008 by and between RYDEX VARIABLE TRUST (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and PADCO ADVISORS II, INC., a Maryland corporation with its principal place of business at 9601 Blackwell Road, Suite 500, Rockville, Maryland 20850 (the “Adviser”).

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