AMENDMENT NO. 10 TO THE INVESTMENT MANAGEMENT AGREEMENT
Exhibit (d)(1)(i)(A)(xi)
AMENDMENT NO. 10
TO THE
INVESTMENT MANAGEMENT AGREEMENT
AMENDMENT NO. 10 to the Investment Management Agreement (“Amendment No. 10”), effective as of June 1, 2014 between EQ Advisors Trust, a Delaware statutory trust (the “Trust”) and AXA Equitable Funds Management Group, LLC, a limited liability company organized in the State of Delaware (“FMG LLC” or “Manager”).
The Trust and FMG LLC agree to modify and amend the Investment Management Agreement, dated as of May 1, 2011, as amended (“Agreement”), as follows:
1. New Portfolios. Effective May 1, 2014, the Trust hereby appoints FMG LLC as the investment manager of the following new Portfolios:
Multimanager Aggressive Equity Portfolio
Multimanager Core Bond Portfolio
Multimanager Mid Cap Growth Portfolio
Multimanager Mid Cap Value Portfolio
Multimanager Technology Portfolio
(collectively, the “New Portfolios”)
on the terms and conditions contained in the Agreement.
2. Duration of Agreement.
| a. | Except as noted in subsection (b) below, with respect to each Portfolio specified in Appendix A to the Agreement (except as provided below), the Agreement will continue in effect another 12 months beyond August 31, 2014 and may be continued thereafter pursuant to subsection (c) below. |
| b. | With respect to the New Portfolios, the Agreement will continue in effect for two years after the effective date of Amendment No. 10 and may be continued thereafter pursuant to subsection (c) below. |
| c. | With respect to each Portfolio, the Agreement shall continue in effect annually after the date specified in subsection (a) or (b), as the case may be, only so long as such continuance is specifically approved at least annually by a majority of the Trustees who are not a party to the agreement or interested persons (as defined in the Investment Company Act of 1940, as amended (“1940 Act”) (“Independent Trustees”) by a vote cast in person at a meeting called for the purpose of voting on such approval, and by either the Board of Trustees or a vote of a majority of the outstanding shares of the Portfolio. The required shareholder approval of the Agreement or of any continuance of the Agreement shall be effective with respect to a Portfolio if a majority of the outstanding voting securities of the series (as defined in Rule 18f-2(h) under the 0000 Xxx) vote to approve the Agreement or its continuance, notwithstanding that the Agreement or its continuance may not have been approved by majority of the outstanding voting securities of (a) any other Portfolio affected by the Agreement, or (b) all the Portfolios of the Trust. |
3. Appendix A: Appendix A to the Agreement, which sets forth the Portfolios of the Trust for which FMG LLC is appointed investment manager is hereby replaced in its entirety by Appendix A attached hereto; and
4. Appendix B: Appendix B to the Agreement, which sets forth the fees payable to FMG LLC with respect to each Portfolio is hereby replaced in its entirety by Appendix B attached hereto.
Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 10 as of the date first above set forth.
| EQ ADVISORS TRUST | AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC | |||||||
| By: | /s/ Xxxxx Xxxxx | By: | /s/ Xxxxxx X. Xxxxx | |||||
| Xxxxx Xxxxx | Xxxxxx X. Xxxxx | |||||||
| Chief Financial Officer and Treasurer | Chairman, Chief Executive Officer and President | |||||||
APPENDIX A
AMENDMENT NO. 10 TO
INVESTMENT MANAGEMENT AGREEMENT
Portfolios
APPENDIX B
AMENDMENT NO. 10 TO
INVESTMENT MANAGEMENT AGREEMENT
The Trust shall pay the Manager, at the end of each calendar month, compensation computed daily at an annual rate equal to the following:
(as a percentage of average daily net assets)
| Index Portfolios |
First $4 Billion |
Next $4 Billion |
Next $2 Billion |
Thereafter | ||||||||||||
| EQ/Xxxxxxx Socially Responsible |
0.500 | % | 0.490 | % | 0.480 | % | 0.470 | % | ||||||||
| EQ/Common Stock Index |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/Core Bond Index |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/Equity 500 Index |
0.250 | % | 0.240 | % | 0.230 | % | 0.220 | % | ||||||||
| EQ/Intermediate Government Bond |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/International Equity Index |
0.400 | % | 0.390 | % | 0.380 | % | 0.370 | % | ||||||||
| EQ/Large Cap Growth Index |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/Large Cap Value Index |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/Mid Cap Index |
0.350 | % | 0.340 | % | 0.330 | % | 0.320 | % | ||||||||
| EQ/Small Company Index |
0.250 | % | 0.240 | % | 0.230 | % | 0.220 | % | ||||||||
(as a percentage of average daily net assets)
| ETF Portfolio |
First $4 Billion |
Next $4 Billion |
Next $2 Billion |
Thereafter | ||||||||||||
| EQ/International ETF |
0.400 | % | 0.390 | % | 0.380 | % | 0.370 | % | ||||||||
| EQ/Energy ETF |
0.500 | % | 0.490 | % | 0.480 | % | 0.470 | % | ||||||||
| EQ/Low Volatility Global ETF |
0.500 | % | 0.490 | % | 0.480 | % | 0.470 | % | ||||||||
(as a percentage of average daily net assets)
| Money Market Portfolio |
First $750 Million |
Next $750 Million |
Next $1 Billion |
Next $2.5 Billion |
Thereafter | |||||||||||||||
| EQ/Money Market |
0.350 | % | 0.325 | % | 0.280 | % | 0.270 | % | 0.250 | % | ||||||||||
(as a percentage of average daily net assets)
| Equity Portfolios |
First $1 Billion |
Next $1 Billion |
Next $3 Billion |
Next $5 Billion |
Thereafter | |||||||||||||||
| AXA SmartBeta™ Equity |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| EQ/AllianceBernstein Dynamic Wealth Strategies |
0.750 | % | 0.700 | % | 0.675 | % | 0.650 | % | 0.625 | % | ||||||||||
| AXA/Franklin Small Cap Value Managed Volatility |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| AXA Global Equity Managed Volatility |
0.750 | % | 0.700 | % | 0.675 | % | 0.650 | % | 0.625 | % | ||||||||||
| AXA/Franklin Balanced Managed Volatility |
0.650 | % | 0.600 | % | 0.575 | % | 0.550 | % | 0.525 | % | ||||||||||
| AXA/Mutual Large Cap Equity Managed Volatility |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| AXAXA/Xxxxxxxxx Global Equity Managed Volatility |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| EQ/BlackRock Basic Value Equity |
0.600 | % | 0.550 | % | 0.525 | % | 0.500 | % | 0.475 | % | ||||||||||
| EQ/Capital Guardian Research |
0.650 | % | 0.600 | % | 0.575 | % | 0.550 | % | 0.525 | % | ||||||||||
| EQ/Xxxxx New York Venture |
0.850 | % | 0.800 | % | 0.775 | % | 0.750 | % | 0.725 | % | ||||||||||
| EQ/Invesco Xxxxxxxx |
0.650 | % | 0.600 | % | 0.575 | % | 0.550 | % | 0.525 | % | ||||||||||
| EQ/JPMorgan Large Cap Value |
0.600 | % | 0.550 | % | 0.525 | % | 0.500 | % | 0.475 | % | ||||||||||
| EQ/Lord Xxxxxx Large Cap Core |
0.650 | % | 0.600 | % | 0.575 | % | 0.550 | % | 0.525 | % | ||||||||||
| EQ/Xxxxxx Xxxxxxx Mid Cap Growth |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| EQ/Xxxxxxxxxxx Global |
0.950 | % | 0.900 | % | 0.875 | % | 0.850 | % | 0.825 | % | ||||||||||
| EQ/Xxxxx Fargo Omega Growth |
0.650 | % | 0.600 | % | 0.575 | % | 0.550 | % | 0.525 | % | ||||||||||
(as a percentage of average daily net assets)
| Equity Portfolios |
First $2 Billion |
Next $1 Billion |
Next $3 Billion |
Next $5 Billion |
Thereafter | |||||||||||||||
| EQ/AllianceBernstein Small Cap Growth |
0.550 | % | 0.500 | % | 0.475 | % | 0.450 | % | 0.425 | % | ||||||||||
| AXA/Horizon Small Cap Value |
0.800 | % | 0.750 | % | 0.725 | % | 0.700 | % | 0.675 | % | ||||||||||
| AXA/Lord Xxxxxx Micro Cap |
0.850 | % | 0.800 | % | 0.775 | % | 0.750 | % | 0.725 | % | ||||||||||
| AXA/Xxxxxx Xxxxxxx Small Cap Growth |
0.800 | % | 0.750 | % | 0.725 | % | 0.700 | % | 0.675 | % | ||||||||||
| AXA/Pacific Global Small Cap Value |
0.800 | % | 0.750 | % | 0.725 | % | 0.700 | % | 0.675 | % | ||||||||||
| Multimanager Aggressive Equity |
0.600 | % | 0.550 | % | 0.525 | % | 0.500 | % | 0.475 | % | ||||||||||
| Multimanager Mid Cap Growth |
0.800 | % | 0.750 | % | 0.725 | % | 0.700 | % | 0.675 | % | ||||||||||
| Multimanager Mid Cap Value |
0.800 | % | 0.750 | % | 0.725 | % | 0.700 | % | 0.675 | % | ||||||||||
| Multimanager Technology |
0.950 | % | 0.900 | % | 0.875 | % | 0.850 | % | 0.825 | % | ||||||||||
(as a percentage of average daily net assets)
| PLUS Portfolios |
First $2 Billion |
Next $1 Billion |
Next $3 Billion |
Next $5 Billion |
Thereafter | |||||||||||||||
| AXA International Core Managed Volatility |
0.600 | % | 0.550 | % | 0.525 | % | 0.500 | % | 0.475 | % | ||||||||||
| AXA International Value Managed Volatility |
0.600 | % | 0.550 | % | 0.525 | % | 0.500 | % | 0.475 | % | ||||||||||
| AXA Large Cap Core Managed Volatility |
0.500 | % | 0.450 | % | 0.425 | % | 0.400 | % | 0.375 | % | ||||||||||
| AXA Large Cap Growth Managed Volatility |
0.500 | % | 0.450 | % | 0.425 | % | 0.400 | % | 0.375 | % | ||||||||||
| AXA Large Cap Value Managed Volatility |
0.500 | % | 0.450 | % | 0.425 | % | 0.400 | % | 0.375 | % | ||||||||||
| AXA Mid Cap Value Managed Volatility |
0.550 | % | 0.500 | % | 0.475 | % | 0.450 | % | 0.425 | % | ||||||||||
| EQ/Emerging Markets Equity PLUS |
0.700 | % | 0.650 | % | 0.625 | % | 0.600 | % | 0.575 | % | ||||||||||
| EQ/Equity Growth PLUS |
0.500 | % | 0.450 | % | 0.425 | % | 0.400 | % | 0.375 | % | ||||||||||
| EQ/Natural Resources PLUS |
0.550 | % | 0.500 | % | 0.475 | % | 0.450 | % | 0.425 | % | ||||||||||
| EQ/Real Estate PLUS |
0.550 | % | 0.500 | % | 0.475 | % | 0.450 | % | 0.425 | % | ||||||||||
(as a percentage of average daily net assets)
| PLUS Portfolios |
First $4 Billion |
Next $4 Billion |
Thereafter | |||||||||
| EQ/Global Bond PLUS |
0.550 | % | 0.530 | % | 0.510 | % | ||||||
| EQ/Quality Bond PLUS |
0.400 | % | 0.380 | % | 0.360 | % | ||||||
| Multimanager Core Bond |
0.550 | % | 0.530 | % | 0.510 | % | ||||||
(as a percentage of average daily net assets)
| Fixed Income Portfolios |
First $2 Billion |
Next $2 Billion |
Thereafter | |||||||||
| EQ/AllianceBernstein Short-Term Bond |
0.450 | % | 0.430 | % | 0.410 | % | ||||||
| EQ/AllianceBernstein Short Duration Government Bond |
0.450 | % | 0.430 | % | 0.410 | % | ||||||
(as a percentage of average daily net assets)
| Fixed Income Portfolios |
First $4 Billion |
Next $4 Billion |
Thereafter | |||||||||
| EQ/Convertible Securities |
0.700 | % | 0.680 | % | 0.660 | % | ||||||
| EQ/High Yield Bond |
0.600 | % | 0.580 | % | 0.560 | % | ||||||
(as a percentage of average daily net assets)
| Fixed Income Portfolio |
First $750 Million |
Next $750 Million |
Next $1 Billion |
Next $2.5 Billion |
Thereafter | |||||||||||||||
| EQ/PIMCO Global Real Return |
0.600 | % | 0.575 | % | 0.550 | % | 0.530 | % | 0.520 | % | ||||||||||
(as a percentage of average daily net assets)
| Tactical Portfolios |
First $3 Billion |
Next $4 Billion |
Next $3 Billion |
Thereafter | ||||||||||||
| ATM International Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| ATM Large Cap Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| ATM Mid Cap Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| ATM Small Cap Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| AXA 2000 Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| AXA 400 Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| AXA 500 Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
| AXA International Managed Volatility |
0.450 | % | 0.430 | % | 0.410 | % | 0.400 | % | ||||||||
