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Exhibit (m)(1)
EATON VANCE VARIABLE TRUST
SERVICE PLAN
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WHEREAS, Eaton Vance Variable Trust (the "Trust") engages in business as an
open-end management investment company with multiple series (each with one
class), and is registered as such under the Investment Company Act of 1940, as
amended (the "Act");
WHEREAS, the Trust on behalf of each of its series listed on Schedule A (a
"Fund") desires to adopt a Service Plan with respect to each Fund's shares
pursuant to which each Fund intends to pay service fees out of its assets as
contemplated in subsections (b) and (d) of Rule 2830 of the Conduct Rules of the
National Association of Securities Dealers, Inc. (the "NASD Rules");
WHEREAS, the Trust employs Eaton Vance Distributors, Inc. to act as
Principal Underwriter (as defined in the Act) of shares of each Fund; and
WHEREAS, the Trustees of the Trust have determined that there is a
reasonable likelihood that adoption of this Service Plan will benefit the Trust,
each Fund listed on Schedule A and the holders of shares of each such Fund.
NOW, THEREFORE, the Trust hereby adopts this Service Plan (the "Plan") on
behalf of each Fund with shares containing the following terms and conditions:
1. The Fund may make payments of service fees out of its assets to the
Principal Underwriter, Authorized Firms and other persons. The aggregate of such
payments during any fiscal year of the Fund shall not exceed .25% of average
daily net assets of the Fund for such year. Appropriate adjustment of service
fee payments shall be made whenever necessary to ensure that no such payment
shall cause the Fund to exceed the applicable maximum cap imposed thereon by
subsection (d)(5) of Rule 2830 of the NASD Rules.
2. This Plan shall not take effect until after it has been approved by both
a majority of (i) those Trustees of the Trust who are not "interested persons"
of the Trust (as defined in the Act) and have no direct or indirect financial
interest in the operations of this Plan or any agreements related to it (the
"Rule 12b-1 Trustees"), and (ii) all of the Trustees then in office, cast in
person at a meeting (or meetings) called for the purpose of voting on this Plan.
3. Any agreements between the Trust on behalf of the Fund and any person
relating to this Plan shall be in writing and shall not take effect until
approved in the manner provided for Trustee approval of this Plan in Section 2.
4. This Plan shall continue in effect with respect to each Fund for so long
as such continuance is specifically approved at least annually in the manner
provided for Trustee approval of this Plan in Section 2.
5. The persons authorized to direct the disposition of monies paid or
payable by the Trust pursuant to this Plan or any related agreement shall be the
President or any Vice President or the Treasurer of the Trust. Such persons
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shall provide to the Trustees of the Trust and the Trustees shall review, at
least quarterly, a written report of the amounts so expended and the purposes
for which such expenditures were made.
6. This Plan may be terminated as to any Fund with respect to its shares at
any time by vote of a majority of the Rule 12b-1 Trustees, or by vote of a
majority of the outstanding voting securities of the Fund.
7. This Plan may not be amended to increase materially the payments to be
made by the shares of the Fund as provided in Section 1 unless such amendment,
if required by law, is approved by a vote of at least a majority of the
outstanding voting securities of the Fund. In addition, all material amendments
to this Plan shall be approved in the manner provided for in Section 2.
Additional series of the Trust which are to become a Fund hereunder will become
subject to this Plan and governed hereby upon approval by the Trustees of the
Trust and amendment of Schedule A.
8. While this Plan is in effect, the selection and nomination of the Rule
12b-1 Trustees shall be committed to the discretion of the Rule 12b-1 Trustees.
9. The Trust shall preserve copies of this Plan and any related agreements
made by the Trust and all reports made pursuant to Section 5, for a period of
not less than six years from the date of this Plan, the first two years in an
easily accessible place.
10. Consistent with the limitation of shareholder, officer and Trustee
liability as set forth in the Trust's Declaration of Trust, any obligations
assumed by the shares of a Fund pursuant to this Plan shall be limited in all
cases to the assets of such shares and no person shall seek satisfaction thereof
from the shareholders of the Fund or officers or Trustees of the Trust or any
other class or series of the Trust.
11. When used in this Plan, the term "service fees" shall have the same
meaning as such term has in subsections (b) and (d) of Rule 2830 of the NASD
Rules. When used in this Plan, the term "vote of a majority of the outstanding
voting securities of the Fund" shall mean the vote of the lesser of (a) 67 per
centum or more of the shares of the Fund present or represented by proxy at the
meeting if the holders of more than 50 per centum of the outstanding shares of
the Fund are present or represented by proxy at the meeting, or (b) more than 50
per centum of the outstanding shares of the Fund.
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12. If any provision of this Plan shall be held or made invalid by a court
decision, statute, rule or regulation of the Securities and Exchange Commission
or otherwise, the remainder of this Plan shall not be affected thereby.
13. This Plan shall be effective with respect to a specific Fund on the
date that Fund begins offering its shares. As of such effective date this Plan
shall amend, replace and be substituted for any service plan previously
applicable to the assets of such Fund.
Adopted August 14, 2000
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SCHEDULE A
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EATON VANCE VARIABLE TRUST
SERVICE PLAN
EFFECTIVE: AUGUST 14, 2000
Name of Fund Adopting this Plan
Eaton Vance VT Income Fund of Boston
Eaton Vance VT Information Age Fund
Eaton Vance VT Worldwide Health Sciences Fund
