AMENDMENT TO PORTFOLIO MANAGEMENT AGREEMENT
The Portfolio Management Agreement dated April 27, 2001 by and between USAllianz
Advisers LLC, USAllianz Variable Insurance Products Trust and ▇▇▇ ▇▇▇▇▇▇ Asset
Management Inc. is hereby amended by deleting the existing Exhibit A and
replacing it with the following:
EXHIBIT A
EFFECTIVE APRIL 27, 2001
Fees payable to the Portfolio Manager pursuant to paragraph 5 hereof shall be at
the following annual rates for each Fund:
USAZ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Fund $0 up to $100 million 0.425%
$100 to $250 million 0.40%
$250 to $500 million 0.375%
$500 million or more 0.325%
USAZ ▇▇▇ ▇▇▇▇▇▇ Growth and
Income Fund $0 up to $100 million 0.425%
$100 to $250 million 0.40%
$250 to $500 million 0.375%
$500 million or more 0.325%
EFFECTIVE MAY 1, 2003
The minimum fee payable for the two (2) above listed funds shall be $100,000 per
calendar year, commencing January 1, 2002.
USAZ ▇▇▇ ▇▇▇▇▇▇ Emerging
Growth Fund No breakpoints 0.50%
(formerly known as USAZ American
Growth Fund
There is no minimum fee payable for the above listed fund.
The October 8, 2001 Portfolio Management Agreement between the parties
identified herein is rendered null and void and has been superceded and replaced
in its entirety by this Agreement.
EFFECTIVE MAY 1, 2003
USAZ ▇▇▇ ▇▇▇▇▇▇ Global $0 up to $300 million 0.70%
Franchise Fund $300 to $600 million 0.60%
$600 million or more 0.50%
The minimum fee payable for the one (1) above fund shall be $200,000 per
calendar year.
In regard to all funds listed above:
The management fee shall be accrued and paid to the Portfolio Manager as
provided in Section 5 of the Portfolio Management Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of May 1, 2003.
USAllianz Advisers LLC
/s/: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
By: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
USAllianz Variable Insurance Products Trust
/s/: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
By: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
▇▇▇ ▇▇▇▇▇▇ Asset Management Inc.
/s/: illegible
By: illegible