Form of

                            SUB-ADVISORY AGREEMENT



   This Sub-Advisory Agreement ("Agreement") executed as of __________, is

between LINCOLN INVESTMENT ADVISORS CORPORATION, a Tennessee corporation (the

"Adviser"), and SSgA Funds Management, Inc., a Massachusetts corporation (the

"Sub-Adviser"). As a matter of administrative convenience, this Agreement is

entered into by and between the Sub-Adviser and the Adviser with respect to

multiple Funds of the Lincoln Variable Insurance Products Trust (the "Trust"),

each of which is a registered investment company registered under the

Investment Company Act of 1940, as amended and is listed in Schedule B hereto.

Nevertheless, this Agreement shall be construed to constitute a separate

Agreement on behalf of each such Fund, and the term Fund is used in the

singular herein.



   WHEREAS, the Trust, on behalf of the Fund, has entered into an Investment

Management Agreement with the Adviser, pursuant to which the Adviser has agreed

to provide certain investment management services to the Fund; and



   WHEREAS, the Adviser desires to appoint Sub-Adviser as investment

sub-adviser to provide the investment advisory services to the Fund, and

Sub-Adviser is willing to serve the Fund in such capacity.



   NOW, THEREFORE, in consideration of the mutual covenants herein contained,

and each of the parties hereto intending to be legally bound, it is agreed as

follows:



1. SERVICES TO BE RENDERED BY SUB-ADVISER TO THE FUND.



   (a) The Trust and the Advisor appoint the Sub-Advisor to act as investment

sub-advisor to the Fund on the terms set forth in this Agreement. Subject to

the direction and control of the Board of Trustees (the "Trustees") of the

Trust, the Sub-Adviser, at its expense, will furnish continuously an investment

program for the Fund which shall at all times meet the diversification

requirements of Section 817(h) of the Internal Revenue Code of 1986 (the

"Code"). The Sub-Adviser will make investment decisions on behalf of the Fund

and place all orders for the purchase and sale of portfolio securities. The

Sub-Adviser will be an independent contractor and will not have authority to

act for or represent the Trust or Adviser in any way or otherwise be deemed an

agent of the Trust or Adviser except as expressly authorized in this Agreement

or another writing by the Trust, Adviser and the Sub-Adviser.



   (b) The Sub-Adviser, at its expense, will furnish (i) all necessary

investment and management facilities, including salaries of personnel, required

for it to execute its duties faithfully and (ii) administrative facilities,

including bookkeeping, clerical personnel and equipment necessary for the

efficient conduct of the investment affairs of the Fund (excluding

determination of net asset value per share, portfolio accounting and

shareholder accounting services). The Sub-Adviser shall be responsible for

commercially reasonable expenses relating to the printing and mailing of

required supplements to the Fund's registration statement, provided that such

supplements relate solely to a change in control of the Sub-Adviser or any

change in the portfolio manager or managers assigned by the Sub-Adviser to

manage the Fund.



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   (c) The Sub-Adviser shall vote proxies relating to the Fund's investment

securities in the manner in which the Sub-Adviser believes to be in the best

interests of the Fund, and shall review its proxy voting activities on a

periodic basis with the Trustees. The Trust or Adviser may withdraw the

authority granted to the Sub-Adviser pursuant to this Section at any time upon

written notice.



   (d) The Sub-Advisor shall not be responsible for filing proofs of claim or

otherwise participating in class action lawsuits with respect to securities

held by the Fund.



   (e) The Sub-Adviser will select brokers and dealers to effect all portfolio

transactions subject to the conditions set forth herein (except to the extent

such transactions are effected in accordance with such policies or procedures

as may be established by the Board of Trustees.) In the selection of brokers,

dealers or futures commission merchants and the placing of orders for the

purchase and sale of portfolio investments for the Fund, the Sub-Adviser shall

use its best efforts to obtain for the Fund the most favorable price and

execution available, except to the extent it may be permitted to pay higher

brokerage commissions for brokerage and research services as described below.

The Adviser reserves the right to direct the Sub-Adviser upon written notice

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