Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

Lincoln Hedged S&P 500 Conservative Fund

Lincoln Hedged S&P 500 Fund

Lincoln Nasdaq-100 Buffer Fund

Lincoln Opportunistic Hedged Equity Fund

LVIP AllianceBernstein Large Cap Growth Fund

0.80% of the first $50 million;

0.75% of the next $50 million;

0.70% of the next $150 million;

0.65% of the next $250 million; and

0.60% of the excess over $500 million

LVIP American Balanced Allocation Fund

LVIP American Century Balanced Fund

0.65% of the first $500 million; and

0.60% of the excess over $500 million

LVIP American Century Capital Appreciation Fund

0.55% of the first $1 billion; and

0.50% of the excess over $1 billion

LVIP American Century Disciplined Core Value Fund

0.55% of the first $5 billion; and

0.50% of the excess over $5 billion

LVIP American Century Inflation Protection Fund

LVIP American Century International Fund

0.80% of the first $1 billion; and

0.75% of the excess over $1 billion

LVIP American Century Large Company Value Fund

0.55% of the first $5 billion; and

0.45% of the excess over $5 billion

LVIP American Century Mid Cap Value Fund

LVIP American Century Select Mid Cap Managed Volatility Fund

LVIP American Century Ultra Fund

LVIP American Century Value Fund

LVIP American Funds Vanguard Active Passive Growth Fund

LVIP American Global Balanced Allocation Managed Risk Fund

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

LVIP American Global Growth Allocation Managed Risk Fund

LVIP American Global Growth Fund¹

LVIP American Global Small Capitalization Fund¹

LVIP American Growth Allocation Fund

LVIP American Growth Fund¹

LVIP American Growth-Income Fund¹

LVIP American Income Allocation Fund

LVIP American International Fund¹

LVIP American Preservation Fund

LVIP Baron Growth Opportunities Fund

LVIP BlackRock Dividend Value Managed Volatility Fund

0.75% of the first $500 million; and

0.70% of the excess over $500 million

LVIP BlackRock Equity Dividend Fund

First $500M          0.65%

Next $500M to $1B       0.60%

Next $1B to $2.5B        0.55%

Over $2.5B           0.50%

LVIP BlackRock Global Allocation Fund

0.64% on the first $1.5 billion; and

0.60% of the excess over $1.5 billon

LVIP BlackRock Global Allocation Managed Risk Fund

LVIP BlackRock Global Growth ETF Allocation Managed Risk Fund

LVIP BlackRock Inflation Protected Bond Fund

0.45% of the first $500 million; and

0.40% of the excess over $500 million

LVIP BlackRock Real Estate Fund

0.73% on assets up to $250 million;

0.63% on assets over $250 million

LVIP BlackRock U.S. Growth ETF Allocation Managed Risk Fund

LVIP Blended Large Cap Growth Managed Volatility Fund

0.75% of the first $500 million; and

0.70% of the excess over $500 million

LVIP Blended Mid Cap Managed Volatility Fund

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

LVIP Channing Small Cap Value Fund

LVIP ClearBridge Franklin Select Large Cap Managed Volatility Fund

LVIP ClearBridge Appreciation Fund

0.75% of the first $250 million;

0.70% of the next $250 million:

0.65% of the next $500 million;

0.60% of the next $1 billion;

0.55% of the next $1 billion:

0.50% of the excess over $3 billion

LVIP ClearBridge Dividend Strategy Fund

0.70% of the first $1 billion;

0.68% of the next $1 billion:

0.65% of the next $3 billion;

0.60% of the next $5 billion;

0.55% of the excess over $10 billion

LVIP ClearBridge Large Cap Growth Fund

0.70% of the first $1 billion;

0.68% of the next $1 billion:

0.65% of the next $3 billion;

0.60% of the next $5 billion;

0.55% of the excess over $10 billion

LVIP ClearBridge Large Cap Value Fund

0.65% of the first $350 million;

0.55% of the next $150 million:

0.525% of the next $250 million;

0.50% of the next $250 million;

0.45% of the excess over $1 billion

LVIP Dimensional International Core Equity Fund

LVIP Dimensional International Equity Managed Volatility Fund

LVIP Dimensional U.S. Core Equity 1 Fund

0.48% of the first $200 million;

0.40% of the next $200 million; and

0.30% of the excess of $400 million

LVIP Dimensional U.S. Core Equity 2 Fund

LVIP Dimensional U.S. Equity Managed Volatility Fund

LVIP Fidelity Institutional AM^® Select Core Equity Managed Volatility Fund

LVIP Fidelity Institutional AM^® Total Bond Fund

First $500M          0.65%

Next $500M to $1B        0.60%

Next $1B to $2.5B        0.55%

Over $2.5B           0.50%

LVIP Franklin Templeton Global Equity Managed Volatility Fund

0.75% of the first $200 million;

0.65% of the next $300 million; and

0.60% of the excess over $500 million

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

LVIP Franklin Templeton Multi-Factor Emerging Markets Equity Fund

0.40% on assets up to $100 million;

0.33% on assets above $100 million

LVIP Franklin Templeton Multi-Factor International Equity Fund

0.40% on assets up to $100 million;

0.32% on assets above $100 million

LVIP Franklin Templeton Multi-Factor Large Cap Equity Fund

0.40% on assets up to $100 million;

0.30% on assets above $100 million

LVIP Franklin Templeton Multi-Factor SMID Cap Equity Fund

0.40% on assets up to $100 million;

0.30% on assets over $100 million

LVIP Global Aggressive Growth Allocation Managed Risk Fund

LVIP Global Conservative Allocation Managed Risk Fund

LVIP Global Growth Allocation Managed Risk Fund

LVIP Global Moderate Allocation Managed Risk Fund

LVIP Government Money Market Fund

0.48% of the first $200 million;

0.40% of the next $200 million; and

0.30% of the excess over $400 million

LVIP Invesco Select Equity Income Managed Volatility Fund

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

LVIP JPMorgan Core Bond Fund

LVIP JPMorgan High Yield Fund

0.65% of the first $500 million; and

0.60% of the excess over $500 million

LVIP JPMorgan Mid Cap Value Fund

LVIP JPMorgan Retirement Income Fund

LVIP JPMorgan Select Mid Cap Value Managed Volatility Fund

1.05% of the first $60 million;

0.75% of the next $90 million; and

0.65% of the excess over $150 million

LVIP JPMorgan Short Duration Bond Fund

First $500M           0.500%

Next $500M to $1B        0.475%

Next $1B to $2.5B         0.450%

Over $2.5B            0.425%

LVIP JPMorgan Small Cap Core Fund

LVIP JPMorgan U.S. Equity Fund

LVIP Loomis Sayles Global Growth Fund

LVIP Franklin Templeton Core Bond Fund, f.k.a. LVIP Macquarie Bond Fund

0.48% of the first $200 million;

0.40% of the next $200 million; and

0.30% of the excess over $400 million

LVIP Macquarie Diversified Floating Rate Fund

0.60% of the first $500 million; and

0.55% of the excess over $500 million

LVIP Macquarie High Yield Fund

First $500M           0.65%

Next $500M to $1B        0.60%

Next $1B to $2.5B         0.55%

Over $2.5B            0.50%

LVIP Macquarie Mid Cap Value Fund

0.48% of the first $200 million;

0.40% of the next $200 million; and

0.30% of the excess over $400 million

LVIP Macquarie SMID Cap Core Fund

First $500M           0.75%

Next $500M to $1B        0.70%

Next $1B to $2.5B         0.65%

Over $2.5B            0.60%

LVIP Macquarie Social Awareness Fund

0.48% of the first $200 million;

0.40% of the next $200 million; and

0.30% of the excess over $400 million

LVIP Macquarie U.S. Growth Fund

First $500M           0.65%

Next $500M to $1B        0.60%

Next $1B to $2.5B         0.55%

Over $2.5B            0.50%

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

First $500M           0.75%

Next $500M to $1B        0.70%

Next $1B to $2.5B         0.65%

Over $2.5B            0.60%

1.00% of the first $50 million;

0.95% of the next $50 million;

0.90% of the next $50 million;

0.85% of the next $100 million; and

0.80% of the excess over $250 million

0.75% of the first $75 million;

0.70% of the next $75 million;

0.65% of the next $50 million;

0.60% of the next $300 million;

0.5875% of the next $1 billion; and

0.5625% on assets over $1.5 billion

0.90% of the first $200 million;

0.75% of the next $200 million; and

0.60% of the excess over $400 million

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

0.24% of the first $500 million;

0.20% of the next $500 million; and

0.16% of the excess over $1 billion

0.75% of the first $200 million;

0.70% of the next $200 million; and

0.65% of the excess over $400 million

Fund Name

Management Fee Schedule

(as a percentage of average daily net assets)

LVIP Wellington SMID Cap Value Fund

1.05% of the first $25 million;

0.95% of the next $25 million;

0.85% of the next $50 million;

0.75% of the next $150 million; and

0.70% of the excess over $250 million

LVIP Western Asset Core Bond Fund

0.45% of the first $2 billion; and

0.35% of the excess over $2 billion

To the extent that a Fund invests all its investable assets (e.g., securities and cash) in another registered investment company, the Trust will not pay the Investment Manager any fee pursuant to Section 4) of the Agreement.

PRODUCTS TRUST, on behalf of each of its Funds listed on Schedule A

/s/ Gordon Huellmantel

/s/ James Hoffmayer