THIRD AMENDMENT TO THE
PRINCIPAL VARIABLE CONTRACTS FUND, INC.
SUB-ADVISORY AGREEMENT
Agreement executed as of the 9th day of August, 2000 to amend the Sub-Advisory
Agreement executed as of July 1, 1997 (and including subsequent amendments
thereafter) by and between Princor Management Corporation (now known as
Principal Management Corporation) (hereinafter called "the Manager") and Invista
Capital Management, Inc. (now known was Invista Capital Management, LLC)
(hereinafter called "Invista").
WHEREAS, in the Sub-Advisory Agreement, Manager retained Invista to furnish it
with portfolio selection and related research and statistical services in
connection with the investment advisory services which the Manager has agreed to
provide to the Principal Variable Contracts Fund (hereinafter called "the
Fund"); and
WHEREAS, the Manager and Invista now wish to amend the Sub-Advisory Agreement;
NOW, THEREFORE, in consideration of the terms and conditions set forth
hereinafter, the parties agree Schedule A now reads as follows:
SCHEDULE A
For the services provided and the expenses assumed by Invista pursuant to the
Sub-Advisory Agreement, Principal Management, not the Fund, shall pay Invista a
sub-advisory fee, computed daily and paid monthly, at the annual rate shown
below applied to the portion of each series' average daily net assets allocated
to Invista's management.
Balanced Account 0.150%
Blue Chip Account 0.080%
Capital Value Account 0.075%
Government Securities Account 0.060%
Growth Account 0.075%
International Account 0.100%
International Emerging Markets Account 0.550%
International SmallCap Account 0.500%
MidCap Account 0.075%
LargeCap Stock Index Account 0.060%
SmallCap Account 0.390%
Utilities Account 0.110%
IN WITNESS WHEREOF, the parties have duly executed this Agreement on the date
first written above.
Principal Management Corporation
/s/A. S. Filean
By: ________________________
Invista Capital Management, LLC
/s/C. R. Barnes
By: ________________________
