EX-99.H.3.B 17 d125094dex99h3b.htm AMENDMENT TO SCHEDULE A TO EXPENSE LIMITATION AGREEMENT Amendment to Schedule A to Expense Limitation Agreement

EX-28(h)(3)(b)

AMENDMENT TO

SCHEDULE A

AMENDED AND RESTATED

EXPENSE LIMITATION AGREEMENT

THIS AMENDED SCHEDULE A lists the Funds and the Expense Limitation Amounts which are established pursuant to the Amended and Restated Expense Limitation Agreement dated April 26, 2019.

 

LVIP FUND NAME

    STANDARD
CLASS
EXPENSE
LIMIT		     SERVICE
CLASS
EXPENSE
LIMIT		     EFFECTIVE DATE    TERMINATION
DATE

Lincoln iShares® Fixed Income Allocation Fund

      0.15 %      N/A     May 1, 2021    April 30, 2022

Lincoln iShares® Global Growth Allocation Fund

      0.20 %      N/A     May 1, 2021    April 30, 2022

Lincoln iShares® U.S. Moderate Allocation Fund

      0.19 %      N/A     May 1, 2021    April 30, 2022

LVIP American Century Select Mid Cap Value Managed Volatility Fund

      0.895 %      1.245 %    May 1, 2021    April 30, 2022

LVIP Baron Growth Opportunities Fund

      0.93 %      1.18 %    May 1, 2021    April 30, 2022

LVIP BlackRock Advantage Allocation Fund

      0.73 %      0.98 %    May 1, 2021    April 30, 2022

LVIP BlackRock Dividend Value Managed Volatility Fund1

      0.675 %      0.925 %    May 1, 2021    April 30. 2022

LVIP BlackRock Global Allocation Fund

      0.73 %      0.98 %    May 1, 2021    April 30, 2022

LVIP ClearBridge QS Select Large Cap Managed Volatility Fund2

      0.675 %      1.025 %    May 1, 2021    April 30, 2022

 

1 

Effective upon the reorganization of the LVIP Franklin Templeton Value Managed Volatility Fund into LVIP BlackRock Dividend Managed Volatility Fund (the “Fund”) on November 22, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.68% (for Standard class) and 0.93% (for Service class) until at least November 22, 2021. After November 22, 2021, LIAC may amend this expense limit only with the Board’s consent. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.675% (for Standard class) and 0.925% (for Service Class) until at least November 22,2021.

2 

Effective upon the reorganization of the LVIP ClearBridge Large Cap Managed Volatility Fund into LVIP ClearBridge QS Select Large Cap Managed Volatility Fund (the “Fund”) on May 24, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.68% (for Standard class) and 1.03% (for Service class) until at least May 25, 2021. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.675% (for Standard class) and 1.025% (for Service class) until at least May 25, 2021.

 

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LVIP FUND NAME

    STANDARD
CLASS
EXPENSE
LIMIT		     SERVICE
CLASS
EXPENSE
LIMIT		     EFFECTIVE DATE    TERMINATION
DATE

LVIP Delaware Wealth Builder Fund

      0.71 %      0.96 %    May 1, 2021    April 30, 2022

LVIP Delaware U.S. Growth Fund3

      0.73 %      1.03 %    May 1, 2021    April 30, 2023

LVIP Delaware Value Fund4

      0.69 %      0.99 %    May 1, 2021    April 30, 2023

LVIP Delaware Diversified Income Fund5

      0.54 %      0.84 %    May 1, 2021    April 30, 2023

LVIP Delaware Limited-Term Diversified Income Fund6

      0.53 %      0.83 %    May 1, 2021    April 30, 2023

LVIP Delaware SMID Cap Core Fund7

      0.80 %      1.10 %    May 1, 2021    April 30, 2023

LVIP Delaware High Yield Fund8

      0.74 %      1.04 %    May 1, 2021    April 30, 2023

 

3 

Effective upon the adoption of the Delaware VIP U.S. Growth Series into the LVIP Delaware U.S. Growth Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.73% (for Standard class) and 1.03% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

4 

Effective upon the adoption of the Delaware VIP Large Cap Value Series into the LVIP Delaware Value Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.69% (for Standard class) and 0.99% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

5 

Effective upon the adoption of the Delaware VIP Diversified Income Series into the LVIP Delaware Diversified Income Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.54% (for Standard class) and 0.84% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

6 

Effective upon the adoption of the Delaware VIP Diversified Long-Term Income Series into the LVIP Delaware Diversified Long-Term Income Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.53% (for Standard class) and 0.83% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

7 

Effective upon the adoption of the Delaware VIP Smid Cap Core Series into the LVIP Delaware SMID Cap Core Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.80% (for Standard class) and 1.10% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

8 

Effective upon the adoption of the Delaware VIP High Yield Series into the LVIP Delaware High Yield Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.74% (for Standard class) and 1.04% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

 

2

LVIP FUND NAME

    STANDARD
CLASS
EXPENSE
LIMIT		     SERVICE
CLASS
EXPENSE
LIMIT		     EFFECTIVE DATE    TERMINATION
DATE

LVIP Delaware REIT Fund9

      0.83 %      1.13 %    May 1, 2021    April 30, 2023

LVIP Dimensional International Core Equity Fund

      0.62 %      0.87 %    April 1, 2021    April 30, 2022

LVIP Franklin Templeton Multi-Asset Opportunities Fund

      0.42 %      0.67 %    May 1, 2021    April 30, 2022

LVIP Fidelity Institutional AM® Select Core Equity Managed Volatility Fund

      0.095 %      0.445 %    May 1, 2021    April 30, 2022

LVIP Global Aggressive Growth Allocation Managed Risk Fund

      0.325 %      0.575 %    May 1, 2021    April 30, 2022

LVIP Invesco Select Equity Income Managed Volatility Fund10

      0.565 %      0.915 %    May 1, 2021    April 30, 2022

LVIP JPMorgan Retirement Income Fund

      0.523 %      0.773 %    May 1, 2021    April 30, 2022

LVIP Loomis Sayles Global Growth Fund

      0.77 %      1.12 %    May 1, 2021    April 30, 2022

LVIP MFS International Equity Managed Volatility Fund

      0.135 %      0.385 %    May 1, 2021    April 30, 2022

LVIP Multi-Manager Global Equity Managed Volatility Fund

      0.21 %      0.56 %    May 1, 2021    April 30, 2022

LVIP PIMCO Low Duration Bond Fund

      0.54 %      0.79 %    May 1, 2021    April 30, 2022

LVIP SSGA Conservative Index Allocation Fund

      0.20 %      0.45 %    May 1, 2021    April 30, 2022

 

9 

Effective upon the adoption of the Delaware VIP REIT Series into the LVIP Delaware REIT Fund (the “Fund”) on May 1, 2021, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.83% (for Standard class) and 1.13% (for Service class) until April 30, 2023. After April 30, 2023, LIAC may amend this expense limit only with the Board’s consent.

10 

Effective upon the reorganization of the Invesco Diversified Equity-Income Managed Volatility Fund into the LVIP Invesco Select Equity Income Managed Volatility Fund (the “Fund”) on May 24, 2019, LIAC agreed to limit the Fund’s Operating Expenses at the levels shown above for two years following the reorganization. The intended effect of this limit is to limit the Fund’s net annual fund operating expense ratio to 0.57% (for Standard class) and 0.92% (for Service class) until May 24, 2021. Effective May 1, 2020, LIAC will reduce the Fund’s expense limit to 0.565% (for Standard class) and 0.915% (for Service class) until at least May 24, 2021. After May 24, 2021, LIAC may amend this expense limit only with the Board’s consent.

 

3

LVIP FUND NAME

    STANDARD
CLASS
EXPENSE
LIMIT		     SERVICE
CLASS
EXPENSE
LIMIT		     EFFECTIVE DATE      TERMINATION
DATE		  

LVIP SSGA Emerging Markets Equity Index Fund

      0.50 %      0.75 %      May 1, 2021        April 30, 2022  

LVIP SSGA International Index Fund

      0.39 %      0.64 %      April 1, 2021        April 30, 2022  

LVIP SSGA International Managed Volatility Fund

      0.245 %      0.495 %      May 1, 2021        April 30, 2022  

LVIP SSGA Large Cap Managed Volatility Fund

      0.245 %      0.495 %      May 1, 2021        April 30, 2022  

LVIP SSGA Short-Term Bond Index Fund

      0.3625 %      0.6125 %      May 1, 2021        April 30, 2022  

LVIP SSGA Nasdaq-100 Index Fund

      0.45 %      0.70 %      May 1, 2021        April 30, 2022  

LVIP SSGA SMID Cap Managed Volatility Fund

      0.245 %      0.495 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2010 Fund

      0.27 %      0.52 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2020 Fund

      0.24 %      0.49 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2030 Fund

      0.25 %      0.50 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2040 Fund

      0.26 %      0.51 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2050 Fund

      0.27 %      0.52 %      May 1, 2021        April 30, 2022  

LVIP T. Rowe Price 2060 Fund

      0.27 %      0.52 %      May 1, 2021        April 30, 2022  

LVIP U.S. Aggressive Growth Allocation Managed Risk Fund

      0.315 %      0.565 %      May 1, 2021        April 30, 2022  

MASTER-FEEDER FUNDS

          

LVIP American Global Small Capitalization Fund

     


 		 0.10

Service II
Class

 % 11 

 
 

     N/A       May 1, 2021        April 30, 2022  

 

 

11 

Applies only to “Other Expenses” as such term is used in the Fund’s prospectus.

 

4

The parties hereto have caused this SCHEDULE A to be signed by their duly authorized officers as of March 10, 2021 and effective in accordance with the dates noted above.

 

LINCOLN INVESTMENT ADVISORS

CORPORATION

               LINCOLN VARIABLE INSURANCE PRODUCTS TRUST, on behalf of each of its Funds listed on Schedule A
By:  

/s/ Jayson R. Bronchetti

      By:   

/s/ William P. Flory, Jr.

Name:   Jayson R. Bronchetti      Name:    William P. Flory, Jr.
Title:   President      Title:    Vice President & Chief Accounting Officer

 

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