EX-99 3 app11.txt
APPENDIX II 2010 SUBSTITUTION APPLICATION OF METLIFE INSURANCE COMPANY OF CONNECTICUT, et al --------------------- --------------------------------------------------------------------------- -------------------------------- Participating Assets as of VIT Assets at Name (Net Expense as of 12/31/09) Advisory Fee Breakpoints 12/31/09 MetLife -------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- -------------------------------- Substitution #1 AIM V.I. Money Market Portfolio First $250 MM 0.40% $ 35,175,164 $1,364,783 - Series 1 (0.90%) Over $250 MM 0.35% Into First $1 BN 0.35% Next $1 BN 0.30% BlackRock Money Market Portfolio Over $2 BN 0.25%(1) $2,026,700,000 - Class A (0.33%) --------------------- --------------------------------------------------------------------------- --------------------------------- --------------------- --------------------------------------------------------------------------- --------------------------------- Substitution #2 AIM V.I. Technology Fund First $250 MN 0.75% $ 119,785,036 $3,044,213 - Series I (1.20%) Next $250 MN 0.74% Next $500 MN 0.73% Next $1.5 BN 0.72% Next $2.5 BN 0.71% Next $2.5 BN 0.70% Next $2.5 BN 0.69% Over $10 BN 0.68%(2) Into RCM Technology Fund First $500 MN 0.88% $ 251,300,000 - Class A (0.96%) Over $500 MN 0.85% --------------------- --------------------------------------------------------------------------- --------------------------------- --------------------- --------------------------------------------------------------------------- --------------------------------- Substitution #3 DWS Technology VIP First $250 MN 0.665% $ 80,820,674 $2,585,291 - Class B (1.18%) Next $750 MN 0.635% Next $1.5 BN 0.615% Next $2.5 BN 0.595% Next $2.5 BN 0.565% Next $2.5 BN 0.555% Next $2.5 BN 0.545% Over $12.5 BN 0.535% Into RCM Technology Portfolio First $500 MN 0.88% $251,300,000 -Class E (1.11%) Over $500 MN 0.85% --------------------- --------------------------------------------------------------------------- -------------------------------- --------------------- --------------------------------------------------------------------------- -------------------------------- Substitution #4 DWS Global Opportunities VIP First $500 MN 0.890% $145,721,962 $4,150,499 - Class B (1.42%) Next $500 MN 0.875% Next $1.0 BN 0.860% Over $1.0 BN 0.845% Into Oppenheimer Global Equity Portfolio First $50 MN 0.90% $692,000,000 - Class B (0.89%) Next $50 MN 0.55% Next $400 MN 0.50% Over $500 MN 0.475% --------------------- --------------------------------------------------------------------------- --------------------------------- --------------------- --------------------------------------------------------------------------- --------------------------------- Substitution #5 Janus Aspen Perkins All Assets 0.64%(3) $109,194,000 $3,856,041 Mid Cap Value Portfolio - Service Class (1.34%) Into Met/Artisan Mid Cap Value Portfolio First $1 BN 0.82% $1,331,800,000 - Class B (1.12%) Over $1 BN 0.78% --------------------- --------------------------------------------------------------------------- --------------------------------- --------------------- --------------------------------------------------------------------------- --------------------------------- Substitution #6 Legg Mason Batterymarch Variable All Assets 0.75%(4) $44,035,566 $44,035,566 Global Equity Portfolio - Single Share Class (1.00%) Into Met / Templeton Growth Portfolio First $100 MN 0.70% $245,100,000 - Class B (1.05%) Next $150 MN 0.68% Next $250 MN 0.67% Next $250 MN 0.66% Over $750 MN 0.65%(5) --------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- ---------------------------------- Substitution #7 Legg Mason Western Asset Variable First $1 BN 0.450% $536,970,811 $523,415,627 Money Market Portfolio - Next $1 BN 0.425% Single Share Class (0.50%) Next $3 BN 0.400% Next $5 BN 0.375% Over $10 BN 0.350% Into $2,026,700,000 BlackRock Money Market Portfolio - First $1 BN 0.35% Class E (0.48%) Next $1 BN 0.30% Over $2 BN 0.25%(1) --------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- ---------------------------------- Substitution #8 Legg Mason Batterymarch S&P 500 First $350 MN 0.650% $107,550,999 $24,471,500 Index Portfolio Next $150 MN 0.550% - Class A (0.59%) Next $250 MN 0.525% Next $250 MN 0.500% Over $1 BN 0.450%(6) Into MetLife Stock Index Portfolio - All Assets 0.25%(7) $4,736,000,000 Class A (0.27%) --------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- ---------------------------------- Substitution #9 Pioneer High Yield VCT Portfolio - All Assets 0.65% $139,148,246 $46,382,298 Class II (1.05%) Into BlackRock High Yield Portfolio - All Assets 0.60% $672,500,500 Class B (HypoPerformance) (0.92%) --------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- ---------------------------------- Substitution #10 Putnam VT Growth & Income Portfolio - First $500 MN 0.65% $1,479,700,166 $7,680,819 Class IA(0.58%) Next $500 MN 0.55% $2,723,756 Putnam VT Growth & Income Portfolio - Next $500 MN 0.50% ---------- Class IB (0.83%) Next $5 BN 0.45% $10,404,575 Next $5 BN 0.425% Next $5 BN 0.405% Next $5 BN 0.39% Over $35 BN 0.38% Into First $600 MN 0.60% $2,080,800,000 Lord Abbett Growth and Income Next $500 MN 0.55% Portfolio - Class A (0.56%) Next $400 MN 0.50% Lord Abbett Growth and Income Over $1.5 BN 0.45% Portfolio - Class B (0.81%) --------------------- --------------------------------------------------------------------------- ---------------------------------- --------------------- --------------------------------------------------------------------------- ---------------------------------- Substitution #11 UIF Small Company Growth First $1 BN 0.92% $33,495,000 $5,198,852 Portfolio - Class II (1.71%) Next $500 MN 0.85% Over $1.5 BN 0.80%(8) First $500 mm....0.88% Over $500 mm.....0.83% Into Met/AIM Small Cap Growth Portfolio - Class B (1.15%) $952,200,000 --------------------- --------------------------------------------------------------------------- ----------------------------------
--------------------------- 1. The adviser has contractually agreed to reduce its advisory fee to the annual rate of 0.345% for the first $500 million and 0.335% for the next $500 million through 4/30/2011; for the year ended 12/31/09 the Adviser was paid an advisory fee of 0.33% of the average daily net assets. 2. The adviser has contractually agreed to waive its advisory fee in an amount equal to 100% of the net advisory fees Invesco receives from the affiliated money market funds on investments by the fund of uninvested cash (excluding investments of cash collateral from securities lending) in such affiliated money market funds through 4/30/2010. 3. Janus Aspen Perkins Mid Cap Value Portfolio pays an investment advisory fee rate that may be adjusted up or down depending upon the Portfolio's performance relative to its benchmark index during the relevant measurement period. The base advisory fee rate, prior to any performance adjustment, is 0.64% of the Portfolio's average daily net assets for Mid Cap Value Portfolio, and may go up or down by a variable of up to 0.15% of the Portfolio's average daily net assets on a monthly basis. The base fee and performance adjustment are calculated using different net assets. The base fee uses current net assets, whereas the performance adjustment uses average net assets over a 36 month period. When current net assets vary from average net assets over the period, the performance adjustment can vary significantly, depending on whether net assets had been increasing or decreasing and the amount of the increase/decrease. The performance fee adjustment depends on the Portfolio's performance relative to its benchmark index, the Russell Midcap Value Index, over a rolling 36 month period. For the year ended December 31, 2009, the Portfolio's advisory fee, including the performance fee, was 0.77%. Janus Capital agreed by contract to waive the advisory fee payable by the Portfolio in an amount equal to the amount, if any, that the Portfolio's normal operating expenses in any fiscal year, including the investment advisory fee, but excluding the distribution and shareholder servicing fee applicable to Service Shares, the administrative services fee applicable to Service Shares, brokerage commissions, interest, dividends, taxes, and extraordinary expenses including, but not limited to, acquired fund fees and expenses, exceed the annual rate of 1.34%. 4. The adviser has agreed to forgo fees and/or reimburse operating expenses (other than interest, brokerage, taxes and extraordinary expenses) so that total annual operating expenses are not expected to exceed 1.00%. This arrangement cannot be terminated prior to December 31, 2011 without the Board of Trustees' consent. The manager is permitted to recapture amounts forgone or reimbursed to the fund during the same fiscal year if the fund's total annual operating expenses have fallen to a level below the limit described above. 5. The adviser has contractually agreed, for the period ended April 30, 2011, to an Expense Limitation Agreement whereby total Annual Portfolio Operating Expenses for the Class B shares of the Portfolio will not exceed 1.05%. 6. The adviser has agreed to forgo fees and/or reimburse operating expenses (other than interest, brokerage, taxes and extraordinary expenses) so that total annual operating expenses are not expected to exceed 0.59% for Class A shares. This arrangement cannot be terminated prior to December 31, 2011 without the Board of Trustees' consent. The manager is permitted to recapture amounts forgone or reimbursed to the class during the same fiscal year if the class' total annual operating expenses have fallen to a level below the limits described above. 7. The adviser has contractually agreed to reduce its advisory fee to the annual rate of 0.243% through 4/30/2011. For the year ended 12/31/09 the Adviser was paid an advisory fee of 0.25% of the average daily net assets. 8. The adviser has voluntarily agreed to reduce its advisory fee and/or reimburse the Portfolio so that total annual operating expenses will not exceed 1.26% of its average daily net assets. For purposes of determining the amount of the waiver/reimbursement, the annual operating expenses of the Portfolio exclude certain investment related expenses such as foreign country tax expense and interest expense on amounts borrowed. As a result, the expense ratio, including these expenses, after fee waivers/reimbursements may be higher than 1.26%.