EX-99.D.4.DD.1 4 d185981dex99d4dd1.htm AMENDMENT TO SUB-ADVISORY AGREEMENT Amendment to Sub-advisory Agreement

EX-28(d)(4)(dd)(i)

AMENDMENT TO

SUB-ADVISORY AGREEMENT

This Amendment dated as of June 18, 2021 (the “Amendment”) to the Sub-Advisory Agreement dated March 1, 2021 (the “Agreement”), is between Lincoln Investment Advisors Corporation, a Tennessee corporation (the “Adviser”), and Milliman Financial Risk Management LLC, a Delaware limited liability company (the “Sub-Adviser”).

WHEREAS, the Adviser currently serves as the investment adviser to the Funds listed on Schedule A of the Agreement; and

WHEREAS, Schedule A has been amended to reflect the current list of Funds for which the Sub-Advisor serves as sub-adviser.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, the Agreement is amended as follows:

 

  1.

Schedule A shall be deleted and replaced in its entirety with the attached Schedule A.

 

  2.

All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.

 

  3.

This Agreement may be executed in two or more counterparts, which together shall constitute one instrument.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers, as of the day and year first above written.

 

Lincoln Investment Advisors Corporation     Milliman Financial Risk Management LLC
By:   /s/ Jayson R. Bronchetti     By:   /s/ Adam Schenck
Name:     Jayson R. Bronchetti     Name:     Adam Schenck
Title:   President     Title:   Principal and Managing Director


SCHEDULE A

Funds and Fee Schedules

The Adviser shall compensate the Sub-Adviser for services rendered to a Fund at the specified annual rate for such Fund as follows and as set forth in the table below and otherwise in accordance with the terms of this Agreement, as either may be amended from time to time:

 

Fund

 

  

Fees payable on net assets

of the Managed Portion

  

Effective Date

 

Lincoln S&P 500 Buffer Fund Feb

   0.20% on all assets    February 18, 2022

Lincoln S&P 500 Ultra Buffer Fund Feb

   February 18, 2022

Lincoln S&P 500 Buffer Fund May

   May 21, 2021

Lincoln S&P 500 Ultra Buffer Fund May

   May 21, 2021

Lincoln S&P 500 Buffer Fund Aug

   August 20, 2021

Lincoln S&P 500 Ultra Buffer Fund Aug

   August 20, 2021

Lincoln S&P 500 Buffer Fund Nov

   November 19, 2021

Lincoln S&P 500 Ultra Buffer Fund Nov

   November 19, 2021

Lincoln Nasdaq-100 Buffer Fund Mar

   March 18, 2022

Lincoln Nasdaq-100 Buffer Fund Jun

   June 18, 2021

Lincoln Nasdaq-100 Buffer Fund Sep

   September 17, 2021

Lincoln Nasdaq-100 Buffer Fund Dec

   December 17, 2021

Any such fee to the Sub-Adviser shall be payable in arrears for each month within 10 business days after the end of such month. If the Sub-Adviser shall serve for less than the whole of a month, the foregoing compensation shall be prorated.

The Managed Portion includes all funds and assets, including cash, cash accruals, additions, substitutions and alterations which are subject to advice by the Sub-Adviser. The Managed Portion excludes investments by the Managed Portion in investment vehicles or other instruments that pay an advisory fee to the Sub-Adviser or its affiliates.

The fee schedule for each Fund is based on the specific investment strategy of the Managed Portion for such Fund. Any deviation from the investment strategy for such Managed Portion described in the Investment Guidelines may result in a change in the specified fee for such Fund.