AMENDMENT NO. 1 TO INVESTMENT ADVISORY AGREEMENT
This Amendment No. 1 to the Investment Advisory Agreement (the "Agreement")
dated August 8, 2002, by and between Met Investors Advisory LLC (the "Manager")
and Third Avenue Management LLC (the "Adviser") with respect to the Third Avenue
Small Cap Value Portfolio ("Portfolio"), is entered into effective the 1st day
of January, 2004.
WHEREAS the Agreement provides for the Adviser to provide certain
investment advisory services to the Manager, for which the Adviser is to receive
agreed upon fees; and
WHEREAS the Manager and the Adviser desire to make certain changes to the
Agreement;
NOW, THEREFORE, the Manager and the Adviser hereby agree that the Agreement
is amended as follows:
1. Schedule A of the Agreement hereby is amended to change the Adviser's fee
to the following:
Percentage of average daily net assets
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Third Avenue Small Cap Value Portfolio 0.50% of the first $500 million of such assets, plus
0.45% of such assets over $500 million
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2. All other terms and conditions of the Agreement shall remain in full force
and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed on the 1st day of January, 2004.
MET INVESTORS ADVISORY LLC
By:______________________________
Authorized Officer
THIRD AVENUE MANAGEMENT LLC
By:______________________________
Authorized Officer
