EX-28.d.l.iv

AMENDMENT
TO
SUBADVISORY AGREEMENT

This Amendment (“Amendment”) to the Subadvisory Agreement dated June 13, 2019, as amended March 10, 2021, June 15, 2022,  January 1, 2025 and March 12, 2025 (the “Agreement”), by and among NATIONWIDE VARIABLE INSURANCE TRUST (the “Trust”), NATIONWIDE FUND ADVISORS (the “Adviser”) and J.P. MORGAN INVESTMENT MANAGEMENT INC. (the “Subadviser”) is entered into as of the 1st day of July, 2025 by and among the Trust, the Adviser and the Subadviser. Any term not defined in this Amendment shall have the meaning ascribed to it in the Agreement.

In consideration of the mutual promises and covenants between the parties, the Trust, the Adviser and the Subadviser hereby agree to amend the Agreement as follows:


 1.
Exhibit A of the Agreement is deleted in its entirety and replaced with Exhibit A attached hereto.


2.
Except as modified herein, the terms and conditions of the Agreement, as amended, remain unchanged and in full force and effect.

This Amendment, the Agreement and the attachments thereto constitute the entire agreement among the parties and supersede all prior agreements and understandings between them relating to the subject matter hereof. No modification of the Agreement or this Amendment shall be binding on any party unless it is in writing and signed on behalf of each party by a duly authorized representative. This Amendment may be executed in counterparts, including via facsimile, all of which taken together shall constitute a single instrument.
IN WITNESS WHEREOF, the Trust, the Adviser and the Subadviser have caused this Amendment to be executed on their behalf by their duly authorized officers as of the day and year written above.


 
TRUST
 
NATIONWIDE VARIABLE INSURANCE TRUST
       
 
By:
/s/ Christopher Graham
  
 
Name:
Christpher Graham
 
Title:
SVP, Chief Investment Officer
       
       
 
ADVISER
 
NATIONWIDE FUND ADVISORS
       
 
By:
/s/ Christopher Graham
  
 
Name:
Christpher Graham
 
Title:
SVP, Chief Investment Officer
       
       
 
SUBADVISER
 
J.P. MORGAN INVESTMENT MANAGEMENT INC.
       
 
By:
/s/ Danielle K. Azua
  
 
Name:
Daniel K. Azua
 
Title:
Vice President

EXHIBIT A
SUBADVISORY AGREEMENT
AMONG
NATIONWIDE VARIABLE INSURANCE TRUST,
NATIONWIDE FUND ADVISORS
AND J.P. MORGAN INVESTMENT MANAGEMENT INC.

Effective June 13, 2019, as amended March 10, 2021, June 15, 2022, January 1, 2025 and March 12, 2025
As amended July 1, 2025*

Funds of the Trust
  
Subadvisory Fees
NVIT J.P. Morgan U.S. Equity Fund
 
  
0.20% on Subadviser Assets of up to $500 million;
0.18% on Subadviser Assets of $500 million and more but less than $1 billion; and
0.17% on Subadviser Assets of $1 billion and more
NVIT J.P. Morgan Digital Evolution Strategy Fund
 
  
0.34% on all Subadviser Assets
NVIT J.P. Morgan Innovators Fund
 
  
0.34% on all Subadviser Assets
NVIT J.P. Morgan Large Cap Growth Fund
 
  
0.40% on Subadviser Assets of up to $100 million;
0.30% on Subadviser Assets of $100 million and more but less than $200 million; and
0.20% on Subadviser Assets of $200 million and more
 
NVIT J.P. Morgan US Technology Leaders Fund
  
0.34% on all Subadviser Assets
 
NVIT J.P. Morgan Inflation Managed Fund
  
0.15% on all Subadviser Assets
 
NVIT J.P. Morgan Equity and Options Total Return Fund (formerly, NVIT AQR Large Cap Defensive Style Fund)
  
0.28% on Subadviser Assets of up to $1 billion; and
0.26% on Subadviser Assets of $1 billion and more

*
As approved at the Board of Trustees Meeting held on June 9-10, 2025.

IN WITNESS WHEREOF, the parties hereto have executed this Exhibit A on the effective date set forth above.

 
TRUST
  
 
NATIONWIDE VARIABLE INSURANCE TRUST
  
       
 
By:
    
 
Name:
    
 
Title:
    
       
       
 
ADVISER
  
 
NATIONWIDE FUND ADVISORS
  
       
 
By:
    
 
Name:
    
 
Title:
    
       
       
 
SUBADVISER
  
 
J.P. MORGAN INVESTMENT MANAGEMENT INC.
  
       
 
By:
    
 
Name:
    
 
Title: