0001193125-14-374948 Sample Contracts

EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • October 17th, 2014 • Guggenheim Variable Funds Trust

THIS AGREEMENT, dated as of October 20, 2014, is made and entered into by and between Security Investors, LLC (the “Adviser”) and each of the registered investment companies set forth on Schedule A (each being referred to herein as a “Fund”). This Agreement shall apply to each investment portfolio of a Fund as set forth in Schedule A (the “Series”).

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AMENDED AND RESTATED INVESTMENT ADVISORY CONTRACT
Investment Advisory Contract • October 17th, 2014 • Guggenheim Variable Funds Trust

THIS AMENDED AND RESTATED AGREEMENT, made and entered into this 20th day of October 2014, by and between GUGGENHEIM VARIABLE FUNDS TRUST, a Delaware statutory trust (hereinafter referred to as the “Trust”), and SECURITY INVESTORS, LLC, a Kansas limited liability company (hereinafter referred to as the “Management Company”).

AMENDED AND RESTATED DISTRIBUTION AND SERVICES AGREEMENT
Distribution and Services Agreement • October 17th, 2014 • Guggenheim Variable Funds Trust • Delaware

This Agreement, made and entered into April 30, 2014, and amended and restated effective on October 20, 2014, by and between Guggenheim Variable Funds Trust, a Delaware statutory trust (“Trust”), and Guggenheim Funds Distributors, LLC, a Delaware limited liability company (the “Distributor”), on behalf of the series of the Trust listed in Schedule A (each, a “Series”).

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