Exhibit D(9)
INVESTMENT SUB-ADVISORY AGREEMENT
Between
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
and
XXXXXXX & XXXX INVESTMENT MANAGEMENT COMPANY
("Xxxxxxx & Xxxx")
(as to the MML Small Cap Growth Equity Fund)
INVESTMENT SUB-ADVISORY AGREEMENT
---------------------------------
THIS INVESTMENT SUB-ADVISORY AGREEMENT (this "Sub-Advisory Agreement"), is by
and between Xxxxxxx & Xxxx Investment Management Company, organized under the
laws of the State of Kansas (the "Sub-Adviser"), and Massachusetts Mutual Life
Insurance Company, a mutual life insurance company organized under the laws of
the Commonwealth of Massachusetts ("MassMutual") for the MML Small Cap Growth
Equity Fund (the "Fund"), a series of MML Series Investment Fund (the "Trust"),
a Massachusetts business trust which is an open-end diversified management
investment company registered as such with the Securities and Exchange
Commission (the "Commission") pursuant to the Investment Company Act of 1940, as
amended (the "Act"), effective as of the 1st day of May, 1999.
WHEREAS, the Trust has appointed MassMutual as the investment adviser for the
Fund pursuant to the terms of an Investment Advisory Agreement (the "Advisory
Agreement");
WHEREAS, the Advisory Agreement provides that MassMutual may, at its option,
subject to approval by the Trustees of the Trust and, to the extent necessary,
the shareholders of the Fund, appoint a sub-adviser to assume certain
responsibilities and obligations of MassMutual under the Advisory Agreement;
WHEREAS, MassMutual and the Sub-Adviser are investment advisers registered with
the Commission as such under the Investment Advisers Act of 1940, as amended
(the "Advisers Act"); and
WHEREAS, MassMutual desires to appoint the Sub-Adviser as one of the
sub-advisers for the Fund with responsibility for such portion of the Fund's
assets as MassMutual shall direct from time to time (the "Portfolio") and the
Sub-Adviser is willing to act in such capacity upon the terms herein set forth;
NOW THEREFORE, in consideration of the premises and of the mutual covenants
herein contained, MassMutual and the Sub-Adviser, intending to be legally bound,
hereby agree as follows:
1. General Provision.
------------------
(a) Unless specifically stated otherwise or unless the context clearly
requires otherwise, all references to the "Portfolio" or to the "Fund" shall be
deemed to be references only to the assets of the Fund to be managed by
Sub-Adviser hereunder, and Sub-Adviser's obligations shall be strictly limited
thereto.
(b) MassMutual hereby employs the Sub-Adviser and the Sub-Adviser hereby
undertakes to act as the investment sub-adviser of the Fund with respect to the
Portfolio to provide investment advice and to perform for the Portfolio of the
Fund such other duties and functions as are hereinafter set forth. The
Sub-Adviser shall, in all matters, give to the Portfolio of the Fund and the
Trust's Board of Trustees, directly or through MassMutual, the benefit of the
Sub-Adviser's best judgment, effort, advice and recommendations and shall, at
all times conform to, and use its best efforts to ensure the Portfolio of the
Fund conforms to:
(i) the provisions of the Act and any rules or regulations
thereunder;
(ii) any other applicable provisions of state or federal law;
(iii) the provisions of the Agreement and Declaration of Trust and
Bylaws of the Trust, as amended from time to time and communicated in
writing to the Sub-Adviser (collectively referred to as the "Trust
Documents");
(iv) policies and determinations of the Board of Trustees of the Trust
and MassMutual as communicated in writing to the Sub-Adviser;
(v) the fundamental and non-fundamental policies and investment
restrictions of the Fund as reflected in the Trust's registration statement
under the Act or as such policies may, from time to time, be amended by the
Fund's shareholders, as communicated in writing to the Sub-Adviser; and
(vi) the Prospectus and Statement of Additional Information of the
Fund in effect from time to time as communicated in writing to the
Sub-Adviser (collectively referred to as the "Disclosure Documents").
(c) The appropriate officers and employees of the Sub-Adviser shall be
available upon reasonable notice for consultation with any of the Trustees and
officers of the Trust and MassMutual with respect to any matter dealing with the
business and affairs of the Fund with respect to the Portfolio, such as the
valuation of portfolio securities of the Portfolio of the Fund, including but
not limited to securities that are either not registered for public sale or
securities not traded on any securities market.
2. Duties of the Sub-Adviser.
--------------------------
(a) The Sub-Adviser shall, subject to the ultimate direction and control by
the Trust's Board of Trustees or MassMutual, to the extent MassMutual's
direction is not inconsistent with that of the Board of Trustees, (i) with
respect to the Portfolio, regularly provide investment advice and
recommendations to the Fund, directly or through MassMutual, with respect to the
Fund's investments, investment policies and the purchase, sale or other
disposition of securities and other investments; (ii) with respect to the
Portfolio, supervise and monitor continuously the investment program of the Fund
and the composition of its portfolio and determine what securities or other
investments shall be purchased or sold by the Fund; (iii) with respect to the
Portfolio, arrange, subject to the provisions of Section 6 hereof, for the
purchase of securities and other investments for the Fund and the sale of
securities and other investments held in the portfolio of the Fund; (iv) provide
reports on the foregoing to the Board of Trustees at each Board meeting with
respect to the Portfolio; and (v) undertake to do anything incidental to the
foregoing to facilitate the performance of the Sub-Adviser's obligations
hereunder, including voting or exercising any consent rights with respect to
such securities or investments in accordance with the Sub-Adviser's procedures
as amended from time to time.
(b) The Sub-Adviser shall provide to MassMutual such reports for the Fund,
and in such time frames, as MassMutual shall request or as required by
applicable law or regulation.
(c) Provided that none of MassMutual, the Fund or the Trust shall be
required to pay any compensation other than as provided by the terms of this
Sub-Advisory Agreement and subject to the provisions of Section 5 hereof, the
Sub-Adviser may obtain investment information, research or assistance from any
other person, firm or corporation to supplement, update or otherwise improve its
investment management services.
(d) Provided that nothing herein shall be deemed to protect the Sub-Adviser
from acts or omissions in breach of this Sub-Advisory Agreement or from willful
misfeasance, bad faith or gross negligence in the performance of its duties, or
reckless disregard to its obligations and duties under this Sub-Advisory
Agreement, the Sub-Adviser shall not be liable for any loss sustained by reason
of good faith errors or omissions in connection with any matters to which this
Sub-Advisory Agreement relates.
(e) The Sub-Adviser shall make all material disclosures to MassMutual and
the Fund regarding itself and its partners, officers, directors, shareholders,
employees, affiliates or any person who controls any of the foregoing,
including, but not limited to, information regarding any change in control in
the Sub-Adviser or any change in its key personnel material to the services
provided hereunder, information regarding any
material adverse change in the condition (financial or otherwise) of the
Sub-Adviser or any person who controls the Sub-Adviser, information regarding
the investment performance and general investment methods of the Sub-Adviser
material to the services provided hereunder, its principals and affiliates,
information that MassMutual reasonably deems material to the Fund or necessary
to enable MassMutual to monitor the performance of the Sub-Adviser and
information that is required, in the reasonable judgment of MassMutual, to be
disclosed in any filings required by any governmental agency or by any
applicable law, regulation, rule or order. MassMutual hereby acknowledges that
it has received and has had an opportunity to review a copy of Form ADV, Part
II, of the Sub-Adviser, in accordance with Rule 204-3 of the Advisers Act.
(f) The Sub-Adviser shall provide MassMutual with any information in the
Sub-Adviser's possession necessary for supervising the activities of its
personnel, including professional, administrative and clerical personnel,
including the compilation and maintenance of such records with respect to the
Fund's operations as may reasonably be required.
(g) The Sub-Adviser shall provide MassMutual, upon reasonable prior written
request by MassMutual to the Sub-Adviser, with access to inspect at the
Sub-Adviser's office the books and records of the Sub-Adviser relating to the
Fund and the Sub-Adviser's performance hereunder and such other books and
records of the Sub-Adviser as are necessary to confirm that the Sub-Adviser has
complied with its obligations and duties under this Sub-Advisory Agreement.
3. Other Activities.
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(a) Nothing in this Sub-Advisory Agreement shall prevent MassMutual or the
Sub-Adviser or any officer thereof from acting as investment adviser or
sub-adviser for any other person, firm or corporation and shall not in any way
limit or restrict MassMutual or the Sub-Adviser or any of their respective
directors, officers, members, stockholders, partners or employees from buying,
selling, or trading any securities for its own account or for the account of
others for whom it or they may be acting, provided that such activities are in
compliance with U.S. federal and state securities laws, regulations and rules
and will not adversely affect or otherwise impair the performance by any party
of its duties and obligations under this Sub-Advisory Agreement.
(b) The Sub-Adviser agrees that it will not knowingly or deliberately favor
any other account managed or controlled by it or any of its principals or
affiliates over the Fund. The Sub-Adviser, upon reasonable request and receipt
of adequate assurances of confidentiality, shall provide MassMutual with an
explanation of the differences, if any, in performance between the Portfolio of
the Fund and any other account with investment objectives and policies similar
to the Portfolio of the Fund for which the Sub-Adviser, or any one of its
principals or affiliates, acts as investment adviser. To the extent that a
particular investment is suitable for both the Fund and the Sub-Adviser's other
clients, such investment will be allocated among the Fund and such other clients
in a manner that is fair and equitable in the circumstances. Any allocation made
in accordance with the Sub-Adviser's allocation procedures, as from time to time
amended, shall be presumed fair and equitable, provided such allocation
procedures, or amendments thereto, have been delivered to MassMutual.
4. Compensation of the Sub-Adviser.
--------------------------------
MassMutual agrees to pay the Sub-Adviser and the Sub-Adviser agrees to accept as
full compensation for the performance of all functions and duties on its part to
be performed pursuant to the provisions hereof, a fee paid quarterly, in
arrears, at the following rate: an annual rate of .75% on the first $100 million
of Aggregate Assets; and an annual rate of .70% of Aggregate Assets in excess of
$100 million. For the purposes of this Sub-Advisory Agreement, "Aggregate
Assets" shall mean the aggregate of (i) the average daily net assets of the
Portfolio of the Fund for which the Sub-Advisory provides investment advisory
services, determined at the close of the New York Stock Exchange on
each day that the Exchange is open for trading, and (ii) the average daily net
assets of all other portfolios of funds or accounts of MassMutual or its
affiliates, including portfolios of other funds registered under the Act, for
which the Sub-Advisor provides investment advisory services determined at the
close of the Exchange on each day that the Exchange is open for trading.
MassMutual shall pay the Sub-Advisor such fee on the first business day
immediately following the end of each calendar quarter.
5. Portfolio Transactions and Brokerage.
------------------------------------
(a) The Sub-Adviser is authorized, with respect to the Portfolio in
arranging the purchase and sale of the Fund's publicly-traded portfolio
securities, to employ or deal with such members of securities exchanges, brokers
or dealers (hereinafter "broker-dealers"), as may, in its best judgment,
implement the policy of the Fund to obtain, at reasonable expense, the best
execution (prompt and reliable execution at the most favorable security price
obtainable) of the Fund's portfolio transactions.
(b) The Sub-Adviser may effect the purchase and sale of securities (which
are otherwise publicly traded) in private transactions on such terms and
conditions as are customary in such transactions, may use a broker to effect
such transactions, and may enter into a contract in which the broker acts either
as principal or as agent.
(c) The Sub-Adviser shall select broker-dealers to effect the Fund's
portfolio transactions on the basis of its estimate of their ability to obtain
best execution of particular and related portfolio transactions. The abilities
of a broker-dealer to obtain best execution of particular portfolio
transaction(s) will be judged by the Sub-Adviser on the basis of all relevant
factors and considerations including, without limitation, insofar as feasible,
the execution capabilities required by the transaction or transactions; the
ability and willingness of the broker-dealer to facilitate the Fund's portfolio
transactions by participating therein for its own account; the importance to the
Fund of speed, efficiency or confidentiality; the broker-dealer's apparent
familiarity with sources from or to whom particular securities might be
purchased or sold; the willingness of the broker-dealer to provide useful or
desirable investment research and/or special execution services; other matters
involved in the receipt of brokerage and research services in accordance with
Section 28(e) of the Securities Exchange Act of 1934, as amended; as well as any
other matters relevant to the selection of a broker-dealer for particular and
related transactions of the Fund; and such other considerations as the Board of
Trustees of the Trust or MassMutual determine and provide to the Sub-Adviser
from time to time. The Sub-Adviser may cause the Fund to pay a commission in
excess of the amount another adequately qualified broker-dealer would have
charged if the Sub-Adviser determines, in good faith, that such commission is
reasonable in relation to the value of the brokerage and/or other services
provided by the broker-dealer, viewed in terms of either that particular
transaction or the overall responsibilities of the Sub-Adviser with respect to
the accounts for which it exercises investment discretion.
(d) The Sub-Adviser may aggregate purchase and sale orders for the Fund
with those of other accounts for which it has investment discretion. Securities
purchased in transactions effected pursuant to such aggregated orders shall be
allocated among the Fund and such other client accounts of the Sub-Adviser in
accordance with the Sub-Adviser's written allocation procedures, as amended from
time to time, or in a manner that is fair and equitable under the circumstances.
6. Representations And Warranties
------------------------------
The Sub-Adviser hereby represents and warrants to the Fund and MassMutual
that:
(a) The Sub-Adviser has obtained all required governmental and regulatory
licenses, registrations and approvals required by law as may be necessary to
perform its obligations under this Sub-Advisory Agreement and to act as
contemplated by the Trust Documents and the Disclosure Documents, including
without limitation registration as an
investment adviser under the Advisers Act, and will maintain and renew any
required licenses, registrations, approvals and memberships during the term of
this Sub-Advisory Agreement.
(b) There is no pending, or to the best of its knowledge, threatened or
contemplated action, suit or proceeding before or by any court, governmental,
administrative or self-regulatory body or arbitration panel to which the
Sub-Adviser or any of its principals or affiliates is a party, or to which any
of the assets of the Sub-Adviser is subject, which reasonably might be expected
to (i) result in any material adverse change in the Sub-Adviser's condition
(financial or otherwise), business or prospects, (ii) affect adversely in any
material respect any of the Sub-Adviser's assets, (iii) materially impair the
Sub-Adviser's ability to discharge its obligations under this Sub-Advisory
Agreement, or (iv) result in a matter which would require an amendment to the
Sub-Adviser's Form ADV, Part II; and the Sub-Adviser has not received any notice
of an investigation by the Securities and Exchange Commission or any state
regarding U.S. federal or state securities laws, regulations or rules.
(c) All references in the Disclosure Documents concerning the Sub-Adviser
and its affiliates and the controlling persons, affiliates, stockholders,
directors, officers and employees of any of the foregoing are accurate in all
material respects and do not contain any untrue statement of a material fact or
omit to state a material fact necessary in order to make such information not
misleading.
(d) Subject to adequate assurances of confidentiality, and appropriate
redacting by the Sub-Adviser to protect client confidentiality, the Sub-Adviser
has supplied to, or made available for review by, MassMutual (and if requested
by MassMutual to its designated auditor) all documents, statements, agreements
and workpapers reasonably requested by it relating to accounts covered by the
Sub-Adviser's performance results and which are in the Sub-Adviser's possession
or to which it has access.
MassMutual represents and warrants to the Sub-Adviser that this Agreement
and the appointment of the Sub-Adviser as a sub-adviser to the Fund have
received all necessary approvals, and are authorized by applicable law, by the
Advisory Agreement, the Trust Documents and the Disclosure Documents.
The foregoing representations and warranties shall be continuing during the term
of this Sub-Advisory Agreement.
7. Covenants.
---------
(a) If at any time during the term of this Sub-Advisory Agreement, the
Sub-Adviser discovers any fact or omission, or any event or change of
circumstances occurs, which would make the Sub-Adviser's representations and
warranties in Section 6 inaccurate or incomplete in any material respect, or
which might render the Disclosure Documents untrue or misleading in any material
respect, the Sub-Adviser will provide prompt written notification to the Fund
and MassMutual of any such fact, omission, event or change of circumstances, and
the facts related thereto.
(b) The Sub-Adviser agrees that, during the term of this Sub-Advisory
Agreement, and for so long as investment in the Fund is being offered for sale,
it will provide the Fund and the Sub-Adviser with updated information relating
to the Sub-Adviser's performance results as reasonably required from time to
time by the Fund and MassMutual. The Sub-Adviser shall use its best efforts to
provide such information within a reasonable period of time after the end of the
month to which such updated information relates and the information is available
to it.
(c) If at any time during the term of this Sub-Advisory Agreement,
MassMutual discovers any fact or omission, or any event or change of
circumstances occurs, which would make the representations and warranties made
by MassMutual in Section 6 inaccurate or incomplete in any material respect,
MassMutual will provide prompt written
notification to the Sub-Adviser of any such fact, omission, event or change of
circumstances, and the facts related thereto.
(d) The Sub-Adviser's duties and obligations with respect to the Fund shall
be limited solely to those set forth in this Sub-Advisory Agreement and
MassMutual shall be fully responsible for the performance of those functions
normally carried out by an investment adviser that are not specifically
delegated to the Sub-Adviser hereunder. Without limiting the generality of the
foregoing, MassMutual, either directly or through affiliated parties or other
persons to whom MassMutual so delegates, shall be responsible for (i) monitoring
overall Fund compliance with the restrictions set forth in Section 1(b) hereof,
(ii) calculating the net asset value and the performance of the Fund, (iii)
contracting with a third-party custodian to, among other things, maintain
custody of Fund assets, communicate information to MassMutual regarding Fund
holdings thereof, communicate to the Sub-Adviser regarding Portfolio holdings
and the value thereof, collect dividends and interest payments for Fund
holdings, resolve trade fails and administer other corporate actions.
8. Confidentiality.
---------------
All information and advice furnished by one party to the other party (including
their respective agents, employees and representatives) hereunder shall be
treated as confidential and shall not be disclosed to third parties, except as
may be in the public domain through no breach by any party of this Agreement or
as may be necessary to comply with applicable governmental laws, rules and
regulations, subpoenas or court orders.
9. Duration.
--------
Unless terminated earlier pursuant to Section 10 hereof, this Sub-Advisory
Agreement shall remain in effect for a period of two years from the date hereof.
Thereafter it shall continue in effect from year to year, unless terminated
pursuant to Section 10 hereof, so long as such continuance shall be approved at
least annually by the Trust's Board of Trustees, including the vote of the
majority of the Trustees of the Trust who are not parties to this Sub-Advisory
Agreement or "interested persons" (as defined in the Act) of any such party cast
in person at a meeting called for the purpose of voting on such approval, or by
the holders of a "majority" (as defined in the Act) of the outstanding voting
securities of the Fund.
10. Termination.
-----------
(a) This Sub-Advisory Agreement shall terminate automatically upon its
unauthorized assignment (within the meaning of the Act), the termination of the
Advisory Agreement or the dissolution of the Fund.
(b) The Sub-Advisory Agreement may be terminated by MassMutual or the Board
of Trustees of the Trust: (i) by written notice to the Sub-Adviser with
immediate effect, if the Sub-Adviser's registration under the Adviser's Act is
suspended, terminated, lapsed or not renewed; (ii) by written notice to the
Sub-Adviser with immediate effect, if the Sub-Adviser is bankrupt or insolvent,
seeks an arrangement with creditors, is dissolved or terminated or ceases to
exist; (iii) by written notice to the Sub-Adviser with immediate effect, if
MassMutual determines in good faith, for any reason, that such termination is
appropriate for the protection of the Fund, including without limitation a good
faith determination by MassMutual or the Board of Trustees of the Trust that the
Sub-Adviser has breached an obligation or duty under this Sub-Advisory
Agreement; or (iv) in their sole discretion, without penalty, upon ninety days
prior written notice to Sub-Adviser. This Sub-Advisory Agreement also may be
terminated at any time, without penalty, by the vote of the holders of a
"majority" of the outstanding voting securities of the Fund (as defined in the
Act).
(c) The Sub-Advisory Agreement may be terminated by the Sub-Adviser,
without penalty at any time, upon ninety days' prior written notice, to
MassMutual and the Trust.
11. Indemnification.
---------------
(a) The Sub-Adviser agrees to indemnify and hold harmless MassMutual, the
Fund and any of its or their controlling persons or any shareholders, partners,
directors, officers and/or employees of any of them against any loss, claim,
damage, charge, liability or expense (including, without limitation, reasonable
attorneys' and accountants' fees) to which such persons may become subject,
insofar as such loss, claim, damage, charge, liability or expense arises out of
or is based upon any demands, claims, liabilities, expenses, lawsuits, actions
or proceedings relating to this Sub-Advisory Agreement or to the advisory
services for the account of the Fund provided by the Sub-Adviser, provided that
the loss, claim, damage, liability, cost or expense related to, was based upon,
or arose out of an act or omission of the Sub-Adviser or its officers,
directors, employees, agents or controlling persons constituting willful
misfeasance, bad faith, gross negligence, fraud, willful misconduct, a breach of
this Sub-Advisory Agreement, or a violation of applicable federal or state
securities laws, rules and regulations.
(b) MassMutual agrees to indemnify and hold harmless the Sub-Adviser and
any of its controlling persons, shareholders, partners, directors, officers
and/or employees of any of them against any loss, claim, settlement, damage,
charge, liability or expense (including, without limitation, reasonable
attorneys' and accountants' fees) to which such persons may become subject,
insofar as such loss, claim, settlement, damage, charge, liability or expense
arises out of or is based upon any demands, claims, liabilities, expenses,
lawsuits, actions or proceedings relating to this Sub-Advisory Agreement, the
advisory services for the account of the Fund provided by the Sub-Adviser, the
operation of the Fund or the contents of the Disclosure Documents, provided that
the loss, claim, damage, liability, cost or expense related to, or was based
upon, or arose out of an act or omission of MassMutual or the Fund or its
partners, officers, directors, employees, agents or controlling persons
constituting willful misfeasance, bad faith, gross negligence, fraud, willful
misconduct, a breach of this Sub-Advisory Agreement, or a violation of
applicable federal or state securities laws, rules and regulations.
(c) Promptly after receipt by an indemnified party under this Section 11 of
notice of any claim or dispute or commencement of any action or litigation, such
indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party under this Section 11, notify the indemnifying party of the
commencement thereof; but the omission to notify the indemnifying party will not
relieve it from any liability which it may have to any indemnified party
otherwise than under this Section 11 except to the extent, if any, that such
failure or delay prejudiced the other party in defending against the claim. In
case any such claim, dispute, action or litigation is brought or asserted
against any indemnified party, and it notifies the indemnifying party of the
commencement thereof, the indemnifying party will be entitled to participate
therein and, to the extent that it may wish, to assume the defense thereof, with
counsel specially approved in writing by such indemnified party, such approval
not to be unreasonably withheld, following notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof; in
which event, the indemnifying party will not be liable to such indemnified party
under this Section 11 for any legal or other expenses subsequently incurred by
such indemnified party in connection with the defense thereof, but shall
continue to be liable to the indemnified party in all other respects as
heretofore set forth in this Section 11. Notwithstanding any other provisions of
this Section 11, if, in any claim, dispute, action or litigation as to which
indemnity is or may be available, any indemnified party reasonably determines
that its interests are or may be, in whole or in part, adverse to the interests
of the indemnifying party, the indemnified party may retain its own counsel,
with the choice of counsel subject to the consent of the indemnifying party
(which consent shall not be withheld unreasonably), in connection with such
claim, dispute, action or litigation and shall continue to be indemnified by the
indemnifying party for any legal or any other expenses reasonably incurred in
connection with investigating or defending such claim, dispute, action or
litigation.
12. Disclaimer of Shareholder Liability.
-----------------------------------
MassMutual and the Sub-Adviser understand that the obligations of the Trust
under this Sub-Advisory Agreement are not binding upon any Trustee or
shareholder of the Trust personally, but bind only the Trust and the Trust's
property. MassMutual and the Sub-Adviser represent that each has notice of the
provisions of the Trust Documents disclaiming shareholder and Trustee liability
for acts or obligations of the Trust.
13. Notice.
------
Any notice under this Sub-Advisory Agreement shall be in writing, addressed and
delivered or mailed, postage prepaid, to the other party, with a copy to the
Trust, at the addresses below or such other address as such other party may
designate for the receipt of such notice.
If to MassMutual: Massachusetts Mutual Life Insurance Company
0000 Xxxxx Xxxxxx
Xxxxxxxxxxx, XX 00000
Attention: Xxxxxx X. Xxxxx
Vice President
If to the Sub-Adviser: Xxxxxxx & Xxxx Investment Management Company
0000 Xxxxx
Xxxxxxxx Xxxx, XX 00000-0000
Attention: Xxxx X. Xxxxx, Esq.
If to either MassMutual or the Sub-Adviser, copies to:
MML Series Investment Fund
0000 Xxxxx Xxxxxx
Xxxxxxxxxxx, XX 00000
Attention: Xxxxxxx X. Xxxx
Vice President
14. No Assignment.
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No assignment (within the meaning of the Act) of this Sub-Advisory Agreement may
be made without the express written consent of all parties hereto.
15. Amendments to this Sub-Advisory Agreement.
-----------------------------------------
This Sub-Advisory Agreement may be amended only by a written instrument approved
in writing by all parties hereto.
16. Governing Law.
-------------
This Sub-Advisory Agreement shall be governed by and construed in accordance
with the internal laws of the Commonwealth of Massachusetts, without giving
effect to principles of conflict of laws.
17. Survival.
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The provisions of this Sub-Advisory Agreement shall survive the termination or
other expiration of this Sub-Advisory Agreement with respect to any matter
arising while this Sub-Advisory Agreement was in effect.
18. Successors.
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This Sub-Advisory Agreement shall be binding upon and inure to the benefit of
the parties hereto and their successors and permitted assigns.
19. Entire Agreement.
----------------
This Sub-Advisory Agreement constitutes the entire agreement among the parties
hereto with respect to the matters referred to herein, and no other agreement,
oral or otherwise, shall be binding on the parties hereto.
20. No Waiver.
---------
No failure or delay on the part of any party hereto in exercising any right,
power or remedy hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any such right, power or remedy preclude any other
or further exercise thereof or the exercise of any other right, power or remedy.
Any waiver granted hereunder must be in writing and shall be valid only in the
specific instance in which given.
21. Severability.
------------
If any one or more provisions in this Sub-Advisory Agreement shall, for any
reason, be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not effect any other provision
of this Sub-Advisory Agreement, but this Sub-Advisory Agreement shall be
construed so as to effectuate the intent of the parties hereto as nearly as
possible without giving effect to such invalid, illegal or unenforceable
provision had never been contained herein.
22. Counterparts.
------------
This Sub-Advisory Agreement may be executed in any number of counterparts, each
of which shall constitute an original, but all of which when taken together
shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Fund, MassMutual and the Sub-Adviser have caused this
Sub-Advisory Agreement to be executed as of the day and year first above
written.
MASSACHUSETTS MUTUAL LIFE
INSURANCE COMPANY
By: /s/ Xxxxxxx X. Xxxx
---------------------
Name: Xxxxxxx X. Xxxx
---------------------
Title: Senior Vice President
---------------------
XXXXXXX & XXXX INVESTMENT MANAGEMENT COMPANY
By: /s/ Xxxxx X. Xxxxxxxx
---------------------
Name: Xxxxx X. Xxxxxxxx
-------------------
Title: President, CEO and Chief Investment Officer
--------------------------------------------
ACKNOWLEDGED:
MML SERIES INVESTMENT FUND
on behalf of MML SMALL CAP GROWTH EQUITY FUND
By: /s/ Xxxxxx X. Xxxxx
-------------------
Name: Xxxxxx X. Xxxxx
-------------------
Title: President
-------------------
