AMENDMENT NO. 1 TO THE INVESTMENT MANAGEMENT AGREEMENT

Exhibit (d)(1)(iii)

AMENDMENT NO. 1

TO THE

INVESTMENT MANAGEMENT AGREEMENT

AMENDMENT NO. 1 to the Investment Management Agreement (“Amendment No. 1”), dated as of October 1, 2005, between AXA Enterprise Multimanager Funds Trust, a Delaware statutory trust (the “Trust”), and AXA Equitable Life Insurance Company, a New York stock life insurance company (“AXA Equitable” or “Manager”).

The Trust and AXA Equitable agree to modify and amend the Investment Management Agreement dated as of November 30, 2001 (“Agreement”), as follows:

1. Terminated Fund. The Trust hereby terminates the appointment of AXA Equitable as the manager of AXA Enterprise Money Market Fund II.

2. Funds. AXA Equitable hereby reaffirms its appointment of the Manager as investment manager of the Trust on the terms and conditions set forth in the Agreement.

3. Appendix A. Appendix A to the Agreement and Amendment, which sets forth the Funds of the Trust for which AXA Equitable is appointed as the investment manager and the fees payable to AXA Equitable with respect to each Fund, is hereby replaced in its entirety by Appendix A attached hereto.

Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first above set forth.

AXA ENTERPRISE MULTIMANAGER FUNDS TRUST				AXA EQUITABLE LIFE INSURANCE COMPANY
By:		/s/ Xxxxxxx X. Xxxxxxxxx		By:		/s/ Xxxxxx X. Xxxxx
		Xxxxxxx X. Xxxxxxxxx				Xxxxxx X. Xxxxx
		Chief Financial Officer and Treasurer				Senior Vice President

APPENDIX A

AMENDMENT NO. 1

TO THE

INVESTMENT MANAGEMENT AGREEMENT

Fund		Management Fee
AXA Enterprise Multimanager Core Equity Fund		1.00% of the Fund’s average daily net assets
AXA Enterprise Multimanager Growth Fund		1.00% of the Fund’s average daily net assets
AXA Enterprise Multimanager Value Fund		1.00% of the Fund’s average daily net assets
AXA Enterprise Multimanager Mid Cap Growth Fund		1.20% of the Fund’s average daily net assets
AXA Enterprise Multimanager Mid Cap Value Fund		1.20% of the Fund’s average daily net assets
AXA Enterprise Multimanager International Equity Fund		1.15% of the Fund’s average daily net assets
AXA Enterprise Multimanager Technology Fund		1.30% of the Fund’s average daily net assets
AXA Enterprise Multimanager Health Care Fund		1.30% of the Fund’s average daily net assets
AXA Enterprise Multimanager Core Bond Fund		0.70% of the Fund’s average daily net assets