Exhibit (d)(12)
NORTHERN FUNDS
FORM OF
ADDENDUM NO. 10 TO THE INVESTMENT ADVISORY AGREEMENT
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This Addendum, dated as of the _____ day of __________________, 2000, is
entered into between NORTHERN FUNDS (the "Trust"), a Massachusetts 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 April 1, 1994
as amended by Addendum No. 1 dated November 29, 1994, by Addendum No. 2 dated
March 29, 1996, by Addendum No. 3 dated August 7, 1996, by Addendum No. 4 dated
March 24, 1997, by Addendum No. 5 dated February 12, 1997, by Addendum No. 6
dated November 18, 1997, by Addendum No. 7 dated December 21, 1998, by Addendum
No. 8 dated September 15, 1999 and Addendum No. 9 dated December 28, 1999 (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, International Fixed Income Fund, Income Equity Fund, Growth Equity Fund,
Select Equity Fund, 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 the MarketCommand 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
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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
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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
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"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
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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: __________________ By: ___________________________
Title: ________________________
THE NORTHERN TRUST COMPANY
Attest: __________________ By: ___________________________
Title: ________________________
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