0001104659-08-058978 Sample Contracts

Amendment dated February 29, 2008 to the Amended and Restated Service Agreement between Rydex Variable Trust and Rydex Fund Services, Inc., dated November 15, 2004, As Amended
Service Agreement • September 16th, 2008 • Rydex Variable Trust

The following Amendment is made to Section 4 of the Amended and Restated Service Agreement between Rydex Variable Trust (the “Trust”) and Rydex Fund Services, Inc. (the “Servicer”), as amended to date (the “Agreement”), and is hereby incorporated into and made a part of the Agreement:

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Amendment dated February 29, 2008 to the Accounting Services Agreement between Rydex Variable Trust and Rydex Fund Services, Inc., dated August 11, 1998, as Amended
Accounting Services Agreement • September 16th, 2008 • Rydex Variable Trust

The following Amendment, which supercedes all previous amendments, is made to the Accounting Services Agreement between Rydex Variable Trust (the “Trust”) and Rydex Fund Services, Inc. (the “Servicer”), as amended to date (the “Agreement”), and is hereby incorporated into and made a part of the Agreement:

SCHEDULE A dated January 18, 2008 as last amended , 2008 to the ADVISORY AGREEMENT dated January 18, 2008 between RYDEX VARIABLE TRUST and PADCO ADVISORS II, INC.
Advisory Agreement • September 16th, 2008 • Rydex Variable Trust

The Trust will pay to the Adviser as compensation for the Adviser’s services rendered, a fee, computed daily at an annual rate based on the average daily net assets of the respective Fund in accordance the following fee schedule:

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • September 16th, 2008 • Rydex Variable Trust • Kansas

THIS AGREEMENT is made and entered into as of the [ ] day of [November], 2008 between PADCO Advisors II, Inc. (the “Adviser”), a Kansas limited liability company, registered under the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”), and Security Global Investors, LLC (the “Subadviser”), a Kansas limited liability company registered under the Investment Advisers Act.

AMENDED AND RESTATED FOREIGN CUSTODY MANAGER AGREEMENT
Manager Agreement • September 16th, 2008 • Rydex Variable Trust

AGREEMENT made as of the 24th day of April, 2008 between Rydex Variable Trust (the “Trust”) and U.S. Bank, N.A. (formerly, Star Bank, N.A.) (“U.S. Bank” or the “Custodian”).

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