11b
AMENDMENT TO SERVICES AGREEMENT
Effective March 1, 1999, Schedule 6.1, of the Services Agreement made
August 15, 1996 by and among Delaware Management Holdings, Inc., Delaware
Service Company, Inc., Lincoln National Life Insurance Company, and each of the
investment companies listed on Exhibit A, is hereby amended in its entirety by
substituting the attached fee schedule for the one in the original agreement.
All other terms and conditions of the Services Agreement remain in full
force and effect.
In witness whereof, each of the parties hereto has caused this Amendment to
be executed in its name and behalf by its duly authorized officer on the date
specified below.
Date: 4/6/99 Lincoln National Life Insurance Company
By: /s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx, Senior Vice
President,
Chief Financial Officer and
Assistant Treasurer
Date: 5/5/99 Delaware Management Holdings, Inc.
By: /s/ Xxxxx X. Xxxxxx
-------------------------------------
Title: Executive Vice President/Chief
----------------------------------
Operating Officer
-------------------------------
Date: 5/3/99 Delaware Service Company, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
-------------------------------------
Title: Senior Vice President &
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Treasurer
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Date: 3/31/99 Lincoln National Aggressive Growth
Fund, Inc.
Lincoln National Bond Fund, Inc.
Lincoln National Capital Appreciation
Fund, Inc.
Lincoln National Equity-Income Fund,
Inc.
Lincoln National Global Asset
Allocation Fund, Inc.
Lincoln National Growth and Income
Fund, Inc.
Lincoln National International Fund,
Inc.
Lincoln National Managed Fund, Inc.
Lincoln National Money Market Fund,
Inc.
Lincoln National Social Awareness
Fund, Inc.
Lincoln National Special Opportunities
Fund, Inc.
By: /s/ Xxxxx X. Xxxxxxxxx
-------------------------------------
Xxxxx X. Xxxxxxxxx
In his capacity as President of each
of the above named Funds.
Separate Accounts Schedule
September 30, 1998
FIRST CLASS OF EACH ADD SH 100MM TO *500 MM & *750 MM &
SHARE MINIMUM CLASS 500 MM **750 MM **1 BILLION *1 BILLION
-------------- ----------- -------- --------- ---------- -----------
EF EQUITY FUND 33,000.00 2,200.00 0.0175% 0.0150% 0.0125% 0.0100%
FX FIXED INCOME FUND 33,000.00 2,200.00 0.0175% 0.0150% 0.0125% 0.0100%
IF INTERNATIONAL FUND 33,000.00 2,200.00 0.0475% 0.0450% 0.0400% 0.0350%
MM MONEY MARKET FUND 33,000.00 2,200.00 0.0125% 0.0125% 0.0125% 0.0100%
Monthly Number of
Account Name Average Assets Annual Fees Class Fees Total Fees Classes
-------------- ------------------ ------------ ----------- ------------ ---------
EF S/A 3 $ 427,913.52 $ 33,000.00 $ 0.00 $ 2,750.00 1
EF S/A 11 $ 666,007,412.16 $ 130,000.93 $ 11,000.00 $ 11,750.08 6
FX S/A 12 $ 471,075,637.38 $ 97,938.24 $ 11,000.00 $ 9,078.19 6
MM S/A 14 $ 198,693,487.35 $ 45,336.69 $ 11,000.00 $ 4,694.72 6
EQ S/A 17 $ 324,830,744.73 $ 72,345.38 $ 11,000.00 $ 6,945.45 6
FX S/A 20 $ 96,864,260.44 $ 33,000.00 $ 11,000.00 $ 3,666.67 6
IF S/A 22 $ 153,025,814.48 $ 58,187.26 $ 11,000.00 $ 5,765.61 6
EF S/A 23 $ 505,937,563.25 $ 103,890.63 $ 11,000.00 $ 9,574.22 6
EF S/A 24 $ 136,898,762.14 $ 39,457.28 $ 11,000.00 $ 4,204.77 6
FX S/A 25 $ 22,839,223.65 $ 33,000.00 $ 0.00 $ 2,750.00 1
FX S/A 26 $ 45,198,946.29 $ 33,000.00 $ 8,800.00 $ 3,483.33 5
FX S/A 27 $ 11,881,990.38 $ 33,000.00 $ 0.00 $ 2,750.00 5
EF S/A 28 $ 182,021,414.45 $ 47,353.75 $ 11,000.00 $ 4,862.81 6
FX S/A 47 $ 101,970,390.58 $ 33,344.82 $ 0.00 $ 2,778.73 1
EF VA Fund A $ 122,835,709.15 $ 36,996.25 $ 2,200.00 $ 3,266.35 2
------------------ ------------ ----------- ------------ ---------
Total Separate $ 3,040,509,269.95 $ 78,320.94 69
Account Fees
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Proposed Fee Schedule for Lincoln Life for 1999
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Flat Fee for up to 15 Non Fund of Fund Accounts $ 800,000
Flat Fee for up to 1,200 Fund of Fund Accounts $ 2,000,000
-----------
Total Annual Fees $ 2,800,000
-----------
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Annualized Savings to Lincoln Life with Projected Growth $ 1,103,200
===========
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---------------------
Proposed Fee Schedule
---------------------
FIRST $100 $100 $500 $1 $5 $8
Million Million to Million to Billion to Billion to Billion to Over
or MINIMUM $500 Million $1 Billion $5 Billion $8 Billion $10 Billion $10 Billion
---------- ------------ ----------- ---------- ----------- ----------- -----------
(EF) EQUITY FUND $ 65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(FX) FIXED INCOME FUND $ 65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(IF) INTERNATIONAL FUND $ 87,000 0.0600% 0.0600% 0.0600% 0.0550% 0.0400% 0.0300%
(MM) MONEY MARKET FUND $ 65,000 0.0375% 0.0350% 0.0300% 0.0250% 0.0200% 0.0100%
(MS) MULTIPLE SLEEVE FUND $ 100,000 0.0700% 0.0650% 0.0600% 0.0550% 0.0400% 0.0300%
* less than or equal to
** more than or equal to
Fee as
Fund Monthly Average Annualized a Percentage
Type Fund Assets Fee of Assets
---- ----------------------- ---------------- -------------- ------------
(EQ) Aggressive Growth $ 308,367,238 $ 143,137.71 0.0464%
(FX) Bond Fund $ 362,200,636 $ 163,325.24 0.0451%
(EQ) Capital Appreciation $ 702,648,534 $ 285,926.99 0.0407%
(EQ) Equity Income $ 959,666,008 $ 375,883.10 0.0392%
(EQ) Growth and Income Fund $ 4,099,178,594 $ 1,319,753.58 0.0322%
(IF) International Fund $ 490,692,137 $ 321,415.28 0.0655%
(EQ) Managed Fund $ 944,463,345 $ 370,562.17 0.0392%
(MM) Money Market $ 131,586,637 $ 76,844.99 0.0584%
(MS) Global Asset Allocation $ 477,231,874 $ 364,062.31 0.0763%
(EQ) Social Awareness Fund $ 1,769,015,108 $ 620,704.53 0.0351%
(EQ) Special Opportunities $ 878,849,370 $ 347,597.28 0.0396%
---------------- -------------- ------------
Total Funds $ 11,123,899.481 $ 4,389,213.18 0.0395%
---------------- -------------- ------------
Proposed
Comparison of Current Fee Fee In Change
Fee Schedules in Basis Points Basis Points in Fee
----------------------- --------------- ------------ ------
Aggressive Growth 0.0464% 0.0464% 0.0000%
Bond Fund 0.0451% 0.0451% 0.0000%
Capital Appreciation 0.0407% 0.0407% 0.0000%
Equity Income 0.0381% 0.0392% 0.0011%
Growth and Income Fund 0.0243% 0.0322% 0.0079%
International Fund 0.0655% 0.0655% 0.0000%
Managed Fund 0.0382% 0.0392% 0.0010%
Money Market 0.0584% 0.0584% 0.0000%
Global Asset Allocation 0.0657% 0.0763% 0.0106%
Social Awareness Fund 0.0300% 0.0351% 0.0051%
Special Opportunities 0.0388% 0.0396% 0.0007%
Total Funds 0.0351% 0.0395% 0.0044%
