LETTER AGREEMENT
August 27, 2013
Xxxxxxx Investment Management Company
0000 Xxxxxx Xxxxxx
00xx Xxxxx
Xxxxxxx, XX 00000
Re: | Advisory Agreement - Section 6.A Manager Compensation |
This Letter Agreement amends the Advisory Agreement between Xxxxxxx Investment Company (“RIC”) and Xxxxxxx Investment Management Company (“RIMCo”) dated January 1, 1999, as amended (the “Agreement”). In order to consolidate prior amendments to Section 6.A. of the Agreement, RIC and RIMCo desire to amend and restate Section 6.A of the Agreement as follows:
6. | Compensation of the Manager. |
A. | As consideration for the Manager’s services to the following Sub-Trusts, the Manager shall receive from each of these Sub-Trusts an annual management fee, accrued daily at the rate of 1/365th of the applicable management fee and payable following the last day of each month, of the following annual percentages of each Sub-Trust’s average daily net assets during the month: |
Fund |
Asset Level | Fee | ||||||
Xxxxxxx Xxxxx Duration Bond Fund |
All assets | 0.45 | % | |||||
Xxxxxxx Tax Exempt Bond Fund |
All assets | 0.30 | % | |||||
Xxxxxxx Global Real Estate Securities Fund |
All assets | 0.80 | % | |||||
Xxxxxxx Global Equity Fund |
All assets | 0.95 | % | |||||
Xxxxxxx Emerging Markets Fund |
All assets | 1.15 | % | |||||
Xxxxxxx U.S. Core Equity Fund |
All assets | 0.55 | % | |||||
Xxxxxxx U.S. Small Cap Equity Fund |
All assets | 0.70 | % | |||||
Xxxxxxx U.S. Defensive Equity Fund |
All assets | 0.55 | % | |||||
Xxxxxxx International Developed Markets Fund |
All assets | 0.70 | % | |||||
Xxxxxxx Investment Grade Bond Fund |
All assets | 0.25 | % | |||||
Xxxxxxx Strategic Bond Fund |
All assets | 0.50 | % | |||||
Xxxxxxx Tax-Managed U.S. Large Cap Fund |
All assets | 0.70 | % | |||||
Xxxxxxx Commodity Strategies Fund |
All assets | 1.25 | % | |||||
Xxxxxxx Global Opportunistic Credit Fund |
All assets | 1.00 | % | |||||
Xxxxxxx Global Infrastructure Fund |
All assets | 1.25 | % | |||||
Xxxxxxx Multi-Strategy Alternative Fund |
All assets | 1.50 | % | |||||
Xxxxxxx U.S. Strategic Equity Fund |
All assets | 0.75 | % | |||||
Xxxxxxx U.S. Large Cap Equity Fund |
All assets | 0.70 | % | |||||
Xxxxxxx U.S. Mid Cap Equity Fund |
All assets | 0.80 | % | |||||
Conservative Strategy |
All assets | 0.20 | % | |||||
Balanced Strategy |
All assets | 0.20 | % | |||||
Moderate Strategy |
All assets | 0.20 | % | |||||
Growth Strategy |
All assets | 0.20 | % | |||||
Equity Growth Strategy |
All assets | 0.20 | % |
Fund |
Asset Level | Fee | ||||||
Xxxxxxx Tax-Managed U.S. Mid & Small Cap Fund |
All assets | 0.98 | % | |||||
Xxxxxxx U.S. Dynamic Equity Fund |
All assets | 0.80 | % | |||||
2015 Strategy |
All assets | 0.00 | % | |||||
2020 Strategy |
All assets | 0.00 | % | |||||
2025 Strategy |
All assets | 0.00 | % | |||||
2030 Strategy |
All assets | 0.00 | % | |||||
2035 Strategy |
All assets | 0.00 | % | |||||
2040 Strategy |
All assets | 0.00 | % | |||||
2045 Strategy |
All assets | 0.00 | % | |||||
2050 Strategy |
All assets | 0.00 | % | |||||
2055 Strategy |
All assets | 0.00 | % | |||||
In Retirement |
All assets | 0.00 | % | |||||
2017 Retirement Distribution – A Shares |
All assets | 0.20 | % | |||||
2017 Retirement Distribution – S Shares |
All assets | 0.20 | % |
From this management fee, the Manager shall compensate the Money Managers as a fiduciary of the Trust.
If this agreement is acceptable to you, please sign below to indicate your acceptance and agreement.
Sincerely,
XXXXXXX INVESTMENT COMPANY | ||
By: | /s/ Xxxx X. Xxxxxxx | |
Xxxx X. Xxxxxxx | ||
Treasurer and Chief Accounting Officer | ||
Accepted and Agreed: | ||
XXXXXXX INVESTMENT MANAGEMENT COMPANY | ||
By: | /s/ Xxxxx Xxxxxxx | |
Xxxxx Xxxxxxx | ||
President | ||
XXXXX XXXXXXX COMPANY | ||
By: | /s/ Xxx Xxxxxxx | |
Xxx Xxxxxxx | ||
Chief Executive Officer |