EXHIBIT (d)(1)(B)
ADDENDUM TO MANAGEMENT AGREEMENT
The Management Agreement (the "Agreement") between The GCG
Trust (the "Trust"), a Massachusetts business trust having its
principal place of business at 0000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx,
Xxxxxxxxxx, XX 00000, and Directed Services, Inc. ("DSI" or the
"Manager"), a New York corporation having its principal place of
business at 0000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxxxxx, XX
00000, dated October 24, 1997 is hereby amended by the addition
of the provisions set forth in this Addendum to the Agreement,
which is dated as of the 2nd day of January, 1998.
WITNESSETH:
WHEREAS, the Trust is authorized to issue an unlimited
number of shares of beneficial interest in separate series, each
such series representing interests in a separate portfolio of
securities and other assets; and
WHEREAS, the Trust currently offers shares in multiple
series, may offer shares of additional series in the future, and
intends to offer shares of additional series in the future; and
WHEREAS, the Trust has established eight new series
designated as the Mid-Cap Growth Series, Total Return Series,
Research Series, Growth & Income Series, Value + Growth Series,
Global Fixed Income Series, Growth Opportunities Series and
Developing World Series; and
WHEREAS, the Trust desires to appoint DSI as Manager for the
Mid-Cap Growth Series, Total Return Series, Research Series,
Growth & Income Series, Value + Growth Series, Global Fixed
Income Series, Growth Opportunities Series and Developing World
Series, under the provisions set forth in the Agreement and in
this Addendum to the Agreement; and
WHEREAS, the Manager is willing to accept such appointment.
NOW THEREFORE, in consideration of the mutual promises and
covenants contained in this Addendum, it is agreed between the
parties hereto as follows:
1. In addition to its responsibilities as
specified in the Agreement, the Trust hereby
appoints DSI to act as Manager with respect to the
Mid-Cap Growth Series, Total Return Series,
Research Series, Growth & Income Series, Value +
Growth Series, Global Fixed Income Series, Growth
Opportunities Series and Developing World Series
which, together with all other Series previously
established and listed on Schedule A to the
Agreement, shall be Series under the Agreement as
provided in paragraph one (1), subject to the
terms and conditions as specified in the
Agreement, including paragraph nine (9),
"Compensation."
2. Schedule A to the Agreement shall be
replaced with a new Schedule A, a form of which is
attached hereto.
3. Schedule B to the Agreement
("Compensation for Services to Series") shall be
replaced with a new Schedule B, a form of which is
attached hereto.
This Addendum shall take effect as of the date of its
execution.
IN WITNESS WHEREOF, the parties hereto have caused this
Addendum to be executed on the date indicated.
THE GCG TRUST
/s/Xxxxxxx Xxxxxx /s/Xxxxxxx Xxxxxxx
--------------------------- By:--------------------------
Attest
Vice President & Assistant Secretary President & CEO
------------------------------------ --------------------------
Title Title
DIRECTED SERVICES, INC.
/s/Xxxxxxx Xxxxxx /s/Xxxxx X. Xxxxxxxx
--------------------------- By:--------------------------
Attest
Vice President & Assistant Secretary SVP
------------------------------------ --------------------------
Title Title
SCHEDULE A
The Series of The GCG Trust, as described in the attached
Management Agreement, to which Directed Services, Inc. shall act
as Manager are as follows:
Multiple Allocation Series
Fully Managed Series
Limited Maturity Bond Series
Hard Assets Series
Real Estate Series
All-Growth Series
Liquid Asset Series
Capital Appreciation Series
Rising Dividends Series
Emerging Markets Series
Market Manager Series
Value Equity Series
Strategic Equity Series
Small Cap Series
Mid-Cap Growth Series
Total Return Series
Research Series
Growth & Income Series
Value + Growth Series
Global Fixed Income Series
Growth Opportunities Series
Developing World Series
SCHEDULE B
COMPENSATION FOR SERVICES TO SERIES
For the services provided by Directed Services, Inc. (the
"Manager") to the following Series of The GCG Trust (the
"Trust"), pursuant to the attached Management Agreement, the
Trust will pay the Manager a fee, payable monthly, based on the
average daily net assets of the Series at the following annual
rates of the average daily net assets of that Series.
Series Rate
Multiple Allocation, Fully 1.00% of first $750 million;
Managed, Natural Resources, 0.95% of next $1.250 billion;
Real Estate, All-Growth, 0.90% of next $1.5 billion; and
Capital Appreciation, Rising 0.85% of amount in excess of $3.5 billion
Dividends Series, Value
Equity, Strategic Equity
Series, and Small Cap Series:
Limited Maturity Bond and 0.60% of first $200 million;
Liquid Asset Series:
0.55% of next $300 million; and
0.50% of amount in excess of $500 million
Emerging Markets Series: 1.75% of average daily net assets
Market Manager Series: 1.00% of average daily net assets
Managed Global Series: 1.25% of the first $500 million; and
1.05% on the amount in excess
Growth & Income Series: 0.95% of first $200 million; and
0.75% of amount in excess of $200 million
Value + Growth Series: 0.95% of first $500 million; and
0.75% of amount in excess of $500 million
Mid-Cap Growth, Total Return, 0.80% of first $300 million; and
and Research Series: 0.55% of amount in excess of $300 million
Global Fixed Income Series: 0.85% of first $200 million;
0.75% of next $300 million;
0.60% of next $500 million;
0.55% of amount in next of $1 billion; and
0.40% of amount over $2 billion
Growth Opportunities Series: 0.95% of first $200 million; and
0.75% of amount in excess of $200 million
Developing World Series: 1.25% of the first $500 million; and
1.05% on the amount in excess
