NORTHERN FUNDS
ADDENDUM NO. 10 TO THE INVESTMENT ADVISORY
AGREEMENT
This Addendum, dated as of the 31st day of July, 2000, is entered
into between NORTHERN FUNDS (the "Trust"), a Delaware business
trust, and THE NORTHERN TRUST COMPANY (the "Investment
Adviser"), an Illinois state bank.
WHEREAS, the Trust and the Investment Adviser have entered
into an Investment Advisory and Ancillary Services Agreement dated as of
July 31, 2000 as amended by Addendum No. 1 dated July 31, 2000, by
Addendum No. 2 dated July 31, 2000, by Addendum No. 3 dated July 31,
2000, by Addendum No. 4 dated July 31, 2000, by Addendum No. 5 dated
July 31, 2000, by Addendum No. 6 dated July 31, 2000, by Addendum
No. 7 dated July 31, 2000, by Addendum No. 8 dated July 31, 2000 and by
Addendum No. 9 dated July 31, 2000 (the "Advisory Agreement")
pursuant to which the Trust has appointed the Investment Adviser to act as
investment adviser to the Trust for the Money Market Fund, U.S.
Government Money Market Fund, Municipal Money Market Fund, U.S.
Government Select Money Market Fund, California Municipal Money
Market Fund, U.S. Government Fund, Fixed Income Fund, Intermediate
Tax-Exempt Fund, Tax-Exempt Fund, Global Fixed Income Fund
(formerly known as the International Fixed Income Fund), Income Equity
Fund, Growth Equity Fund, Select Equity Fund, Small Cap Value Fund
(formerly known as the Small Cap Fund), International Growth Equity
Fund, International Select Equity Fund, Technology Fund, Stock Index
Fund, Short-Intermediate U.S. Government Fund, California Intermediate
Tax-Exempt Fund, Arizona Tax-Exempt Fund, California Tax-Exempt
Fund, Florida Intermediate Tax-Exempt Fund, Small Cap Index Fund, Mid
Cap Growth Fund, High Yield Municipal Fund, High Yield Fixed Income
Fund, Tax-Exempt Money Market Fund, Small Cap Growth Fund and
Blue Chip 20 Fund; and
WHEREAS, Section 1(b) of the Advisory Agreement provides that
in the event the Trust establishes one or more additional investment
portfolios with respect to which it desires to retain the Investment Adviser
to act as investment adviser under the Advisory Agreement, the Trust shall
so notify the Investment Adviser in writing and if the Investment Adviser
is willing to render such services it shall notify the Trust in writing, and
the compensation to be paid to the Investment Adviser shall be that which
is agreed to in writing by the Trust and the Investment Adviser; and
WHEREAS, pursuant to Section 1(b) of the Advisory Agreement,
the Trust has notified the Investment Adviser that it is establishing the
Global Communications Fund (the "Fund"), and that it desires to retain the
Investment Adviser to act as the investment adviser for the Fund, and the
Investment Adviser has notified the Trust that it is willing to serve as
investment adviser for the Fund;
NOW THEREFORE, the parties hereto, intending to be legally
bound, hereby agree as follows:
1. Appointment. The Trust hereby appoints the Investment
Adviser to act as investment adviser to the Trust for the Fund in
accordance with the terms set forth in the Advisory Agreement. The
Investment Adviser hereby accepts such appointment and agrees to render
the services set forth in the Advisory Agreement for the compensation
herein provided.
2. Compensation. For the services provided and the expenses
assumed pursuant to the Advisory Agreement regarding the Fund, the
Trust will pay the Investment Adviser, and the Investment Adviser will
accept as full compensation therefor from the Trust, a fee at the annual rate
of 1.25% of the Global Communications Fund's average net assets.
3. Capitalized Terms. From and after the date hereof, the term
"Current Funds" as used in the Advisory Agreement shall be deemed to
include the Fund. Capitalized terms used herein and not otherwise defined
shall have the meanings ascribed to them in the Advisory Agreement.
4. Miscellaneous. The initial term of the Advisory Agreement with
respect to the Fund shall continue, unless sooner terminated in accordance
with the Advisory Agreement, until March 31, 2001. Except to the extent
supplemented hereby, the Advisory Agreement shall remain unchanged
and in full force and effect, and is hereby ratified and confirmed in all
respects as supplemented hereby.
All signatures need not appear on the same copy of this
Addendum.
IN WITNESS WHEREOF, the undersigned have executed this
Addendum as of the date and year first above written.
NORTHERN FUNDS
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxxxxxx Xxxx
Title: Vice-President
THE NORTHERN TRUST COMPANY
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxxxxxx Xxxx
Title: Vice-President
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